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Gregory council approves updated $1 million sales-tax bond for Phase I street work
Summary
The council approved an updated sales-tax bond resolution for $1,000,000 to fund the street portion of Phase I; the bond had previously been approved but not sold, and the resolution required updating. Motion carried unanimously.
Council approved an updated resolution authorizing a $1,000,000 sales-tax bond to fund the street portion of Phase I. The minutes explain the bond had been approved previously but not sold while interest rates fell; because of elapsed time the bond resolution required an update and re-approval. The motion was made by Alex Hamilton and seconded by Maurice Schlaht; the minutes record the motion passed with all ayes.
Staff will proceed with the updated authorization. The minutes do not include additional details about timing for sale or the exact street projects to be funded beyond the 'Phase I' designation included in the agenda text.
