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Paris council approves $1.5 million for Civic Center renovations, re-adopts abatement policy, tables police pay change and confirms appointment
Summary
The Paris City Council on Jan. 13 accepted a 1.95% bid for certificates of obligation to fund Civic Center renovations, re‑adopted tax‑abatement guidelines, tabled a police seniority pay ordinance until the new city manager arrives, confirmed Melba Harris to the civil service commission and approved an incentive package for 'Project Iron Shovel.'
The Paris City Council approved several formal actions on Jan. 13, including debt financing for Civic Center renovations and an incentive package for a prospective business project.
On item 10, the council authorized the issuance and sale of the City of Paris combination tax and surplus revenue certificates of obligation, series 2020, to fund Civic Center renovations. Andrew Bridal of Samco Capital Markets told the council the city received nine bids and the best offer came from First National Bank Texas at an interest rate of 1.95%. Bridal said cost of issuance is $63,500 (to be…
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