Street improvements will be funded as city officials approved the bond ordinance at a special City Council the afternoon of Thursday, Dec. 2.
Voters approved the bond issue during a special election Sept. 14. Voters also approved a 1-cent city sales tax which will fund the bond.
"This has been a long time coming," Kevin Faught, senior vice president with Stephens Public Finance, said. "We've been talking with your mayor here about it for about three years. You had your election here recently and the voters authorized up to $5.8 million for street projects."
Faught and City Clerk Sandy Button said city sales tax collections were "up again" in November.
"They're up about 25%," Button said.
The ordinance approved is published in this week's TIMES and posted in five public places, Faught said, in accordance with the law.
Faught said the new tax goes into affect Jan. 1, 2022, and the city should start receiving the revenue by March.
He explained that the city must use the money as promised to the voters and the Internal Revenue Service requires the money from the bond be spent within three years.
City Street Department superintendent Nathan See said some of the projects discussed may be done "in house" and cost less than if contracted, thereby allowing the city to make the money go further.
The ordinance passed unanimously with Council members Steve Guthrie, Merrill White and Ginger Larsen present and Council member Cody Keene absent.