Ryan Bowman with Friday, Eldridge and Clark and Leigh Ann Biernat with Stephens Inc. told the Carlisle City Council that saving for the reissuing of the city’s sales and usage tax bond came in nearly $100,000 more than expected, during the May 16 council meeting.
According to Biernat, the city was projected to save around $198,181.50 over the life of the bond issues in the initial preliminary figures. In the final summary, Biernat presented the council with a gross savings of $288,116.54 which would be achieved over the next 10 years. Jack Truemper with Stephens Inc. has been working with the city on reissuing the bond but was unable to attend the meeting.
“I think we need to clap for this savings,” Mayor Ray Glover. “Jack [Truemper] and I started talking about reissuing these bonds about a year ago and we were talking $150,000 savings and we are up to $288,000. Jack said that was patience and luck.”
The bond issue will not be extended, and will mature in 2028. With a unanimous vote, the council approved refinancing the bond issue. Closing date will be June 29. The council also unanimously voted to hold a public hearing at 5:30 p.m. on June 20, prior to the June council meeting for the refinancing of the bond and the water and sewer rate increases.
In other business, Debbye Harrison spoke to the council about the Imagination Library program which offers books to children ages birth to five years. Harrison said by investing in the younger children in the community, not only benefits the school district testing scores but also makes our children more employable in the future. According to Harrison the cost to participate in the program is $25 a year per child and Carlisle is the only school in the county participating.
Also during the public comment portion of the meeting, Braiden Jenkins spoke on behalf of the 10th grade class to the council about renaming Alexander Street to Garrett Hogan Street, in honor of the recent passing of their classmate. A petition of residents on the street was presented. The council discussed some concerns with renaming the street including 911 conflicts. Alderman Jon Plafcan asked if adding a secondary name to the roadway, such as Garrett Hogan way, would be an acceptable option. With a verbal agreement, Jenkins and father of the deceased Doug Hogan was told to create a design for the signage.
By two unanimous vote, the council put two ordinances for the increase of water and sewer rates on the first readings.
For the first 1,000 gallons of water consumption per month, the total minimum user charge shall be $12.86. For the ext 38,000 gallons of water consumption per month, the charge shall be $4.23 per 1,000 gallons. For all water consumption in excess of 1,000 gallons per month, the charge shall be $3.21 per 1,000 gallons.
For sewer rates, the first 1,000 gallons of waste water consumption per month, the total minimum user charge shall be $7.90. For waste water consumption in excess of 1,000 gallons per month, the charge shall be $3.15 per 1,000 gallons.
Since the ordinances were put on first reading only, no further action was taken.
The next City Council meeting will be held at 6 p.m. June 20 at the Civic Center. A public hearing will be held at 5:30 p.m., prior to the regular meeting, for the refinancing of the bond and the water and sewer rate increases.