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Paris council approves bond refunding, Atmos settlement, permits, appointments and contracts
Summary
At its Sept. 14 meeting the Paris City Council authorized refunding of 2010 certificates to save an estimated $172,000, approved a negotiated Atmos Energy settlement (average residential increase about $5.15/month), extended the local COVID-19 disaster declaration 120 days, issued multiple solid-waste permits, removed and replaced a Historic Preservation Commission member and approved IT and plaza contracts.
The Paris City Council on Sept. 14 approved a slate of administrative and operational items, including a debt-refunding plan, a negotiated utility settlement, multiple permits and two municipal contracts.
City staff member Anderson recommended redeeming the city’s 2010 certificates of obligation and issuing new debt while interest rates are lower. Anderson said the refinancing would reduce the average interest rate from about 3.9% to about 1.45% and produce roughly "$172,000" in savings over the remaining 10 years. The council authorized staff and the city's financial advisor to proceed with the refunding, voting unanimously.
On a separate matter the council approved an ordinance adopting a negotiated settlement between the ACSC steering committee and Atmos Energy Corporation Mid-Tex Division. Anderson said the amount recommended translates to roughly $5.15 per month for the average residential customer and about $15.48 for the average commercial customer; the council voted to approve the settlement…
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