PSJ commissioners protest tipping fee increase

Published: Thursday, August 22, 2013 at 09:25 AM.

“They want a valuable piece of property we own,” Magidson said. “There has to be a quid pro quo.”

The amended interlocal agreement also includes a provision that the city and county will continue to cooperate in the construction of a recreational complex, though the agreement eliminates any monetary figures to that cooperation.

More to come.

City locks in $15 million debt

The big number for the little city was set in green as commissioners approved a new $15.3 million note on the city’s long-term debt.

The note will continue to be held by Regions Bank which provided the city a path to avoid a costly 2015 balloon payment on the debt.

Regions agreed to a 25-year note with a 15-year balloon payment. The rate is 3.39 percent and increases the city’s annual payment on the debt – accrued largely through capital and infrastructure projects the past six or seven years – from $858,000 to $910,380.

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