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Council votes to open BankSouth account to hold commercial impact fees
Summary
City Clerk Becky Cronic presented a resolution to open a BankSouth checking account to secure commercial impact fees for long-term water and sewer maintenance; Council Member Jim Scott moved and Council Member Boswell seconded the motion, which passed unanimously.
Union Point's council approved a resolution to open a BankSouth checking account to hold impact fees paid by commercial facilities for the long-term maintenance of water and sewer lines. Clerk Becky Cronic presented the proposal; Council Member Jim Scott moved to open the account and Council Member Sally Boswell seconded, and the motion passed unanimously.
The action creates a segregated account intended to secure funds from commercial impact fees for infrastructure maintenance; the resolution as presented does not specify an initial balance or schedule for deposits, nor did council identify a reporting schedule for the new account during the meeting.
