MOUNT VERNON — Mount Vernon City Council approved a measure Monday night that will save the city $180,000 by refinancing the last 10 years of a $3.5 million bond.
The new bond will be fixed at 1.87 percent over the next 10 years, according to City Auditor Terry Scott. The transaction will close on March 20.
Council also heard a first reading for a $3.5 million private bond that will finance the construction of a maintenance building to replace the aging Street Department Garage on Cougar Drive and the Water/Wastewater Garage on Ridgewood Road.
During a committee meeting prior to the legislative meeting, council members were given tours of both facilities by Safety-Service Director Dave Glass and City Engineer Cameron Keaton.
Keaton said it would cost about $250,000 to “piece together” fixes for the bad spots in the Cougar Drive facility. Cracks in the floor on the second floor, and in the ceiling of the first floor, were proof the building was in need of serious repairs. Glass believes the garage was built in the mid-1970s.
Garage sale debate
Councilman-at-large Mike Hillier addressed the Planning and Zoning Committee regarding legislation he and former councilwoman Rebecca Jordan proposed in 2010 to regulate the frequency and duration of garage sales in the city.