The bond would be for up to $7-million; Mayor William Copenhaver said it's a way to avoid raising taxes or fees.
"We're not talking about a tax and we're not talking about raising any of the fees involved," the Mayor said. "We've got the two loans and they were predicated on the city continuing to grow."
"Given the economy right now that's not happening and we're looking at options to reduce our payments for the time being until the economy comes back."
Copenhaver said the city could pay the bond with payments lower to start with for the first four years with gradual increases afterwards.
"By then we should be seeing enough growth in the city to sustain the repayments we have on that loan," Copenhaver said.
Fiscal Resources Committee chairman Tom Walden said if citizens say no to the bond, increased taxes and fees would be the only way to pay the debt.
The Mayor expects the bond referendum to go to the voters before the end of the year.
TECHNOLOGY SURCHARGE
It's going to cost motorists charged with moving violations more in Hoschton if City Council approves a proposed 'technology surcharge'.
City Council reviewed a proposed ordinance that tacks on the additional charge according to Mayor Copenhaver.
"In addition to the normal ticket there will be a $20 surcharge on there for technology," the Mayor said.
The technology would include onboard lap top computers police could use in their cars; the Mayor said seat belt and child restraint violations are the only exceptions.
; Mayor William Copenhaver said it's a way to avoid raising taxes or fees
http://accesswdun.com/article/2009/7/222155