Crestwood delays vote on bond issue (from the Post Dispatch)
Crestwood delays vote on proposal for a bond issue
By Sterling Levy
SPECIAL TO THE POST-DISPATCH
11/11/2005
CRESTWOOD
Decisions made by Crestwood voters in Tuesday's election have prompted the Board of Aldermen to delay a vote on placing a bond proposal to ease budget problems on next April's ballot.
A bond proposal of $4.7 million was rejected last April.
Crestwood will be facing up to a $2 million deficit in 2006. Proposals to raise license fees and utility taxes for businesses were approved in Tuesday's election, but a proposal for an increase in the residential utility tax was rejected. As a result of the vote and some spending reductions, the expected spending gap might be down to about $1.2 million, Mayor Roy Robinson said.
Crestwood has a $3.5 million line of credit from Southwest Bank through November 2006. City Hall and its real estate are the collateral.
(click on the hedder to be directed to the Post Dispatch web site)
No 19
By Sterling Levy
SPECIAL TO THE POST-DISPATCH
11/11/2005
CRESTWOOD
Decisions made by Crestwood voters in Tuesday's election have prompted the Board of Aldermen to delay a vote on placing a bond proposal to ease budget problems on next April's ballot.
A bond proposal of $4.7 million was rejected last April.
Crestwood will be facing up to a $2 million deficit in 2006. Proposals to raise license fees and utility taxes for businesses were approved in Tuesday's election, but a proposal for an increase in the residential utility tax was rejected. As a result of the vote and some spending reductions, the expected spending gap might be down to about $1.2 million, Mayor Roy Robinson said.
Crestwood has a $3.5 million line of credit from Southwest Bank through November 2006. City Hall and its real estate are the collateral.
(click on the hedder to be directed to the Post Dispatch web site)
No 19
posted by Crestwood Independent at 07:12
0 Comments:
Post a Comment
<< Home