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4B fund update: Bedford staff outline sales-tax volatility, interest earnings and debt scenarios
Summary
Assistant City Manager Karen Riggs reported sales-tax receipts and interest income for the 4B (Street Improvement Economic Development Corporation) fund and presented debt-capacity scenarios prepared with Hilltop showing a roughly $4.7 million 20-year issuance or about $2.9 million on a 10-year schedule, assuming flat revenues.
Assistant City Manager Karen Riggs presented a financial status update for the 4B Street Improvement Economic Development Corporation fund, reporting recent sales-tax receipts, strong interest earnings and two modeled debt-issuance scenarios the city could consider for future capital projects.
Riggs told the board that the sales-tax line on the report was $331,278 as of the packet (reflecting lagged receipts) and that figure was 7.86% higher than the same point last year; she noted January receipts (reported separately) reflected a 4.1% decline compared with earlier months and described recent…
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