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Crockett council approves payoff of economic-development debt after audit timing debate
Summary
After debate over whether to wait for findings of a planned forensic audit, Crockett council voted to consent to pay off an outstanding economic-development note (value cited at $315,284.03), with members saying the payoff will save ongoing debt service but others warning about timing while the audit is underway.
Crockett's council voted to approve paying off an outstanding economic-development corporation note dating from the 2000s after several council members questioned whether the city should wait for a concurrent forensic audit.
Staff and board representatives told council the obligation in question dates to 2004 and was renegotiated in 2014 and 2016. Unidentified Speaker 3 (board representative) said the note had been paid down over time and that eliminating the remaining balance would remove an ongoing obligation the city is currently servicing. The figure cited by…
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