South Alabamian

Jackson council approves bond issue

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The Jackson City Council met for its regular meeting Tuesday, July 11. Two public hearings for discussion of two resolutions to be voted on preceded the meeting.

The mayor opened the public hearing asking for discussion on a resolution to allow construction of cottage dwellings in the city’s R3 zone. As there was no comment from anyone present, the hearing was closed.

The next item to be discussed in the public hearing was the financing of a bond issue for the Industrial Development Board. Mayor South opened the hearing asking for any opposition or discussion, as there was none, the hearing closed with the resolution to be voted on during the council meeting.

The council approved a resolution to add cottage dwellings to the R3 residential zones in the city of Jackson. A developer has proposed that two-story cottages be built at the corner of Guy Avenue and Church Street. Council members agreed that new affordable housing was needed in the city.

The council also approved a resolution to issue General Obligation Taxable Warrants to retire an approximately $1,450,000 bank loan of the Industrial Development Board (IDB) of the city of Jackson.

Robert Young, representing The Frazer Lanier Company was present to answer any questions concerning the bond issue. The investment banking company primarily handles corporate and municipal finance and will finance the bond issue. Young said that the city is in excellent financial condition and complimented the mayor and city clerk Reta Corley on their presentation in applying for the funding of the bond issue. Passage of the resolution eliminates the need for flood insurance, saving the IDB approximately

$350,000 over the term of the loan.

The council approved a resolution to refund the original loan funds to the IDB. The IDB has agreed to pay the city back with monthly payments.

A resolution was approved allowing the city to apply for a grant from the state for airport improvements.

The mayor said that several projects in the city remain on hold due to the inability to get materials. He said the weather has also been a factor.

Jackson’s Pellet Plant received the award for having the best month in the entire company. The company has plans to begin the second phase of the project in the near future.

South commented on the John I. Brown Golf Tournament held this past weekend. He said 72 golfers participated with more on a waiting list. He complimented members of the Jackson Golf Association for their tireless efforts to keep the golf course in such good shape.

Council member Daron Bolen who also serves as deputy chief for Jackson Fire Department was absent from Tuesday’s meeting due to a fire call.

The next meeting will be Tuesday, July 25 at 5:30 p.m. at city hall.

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