The Richmond City Council held their first meeting of 2013 Tuesday evening. Click to hear KMZU’s Kristie Cross talk to City Administrator Ron Brohammer:
Council took action on a potential local use tax that will now go before voters in April. “When there is talk of a use tax, the big question is always if it will increase an individual’s taxes,” said Brohammer,” This is not an increase in tax. It applies essentially the same amount as the sales tax to items purchased out of state and generally on the internet.”
The possibility of refinancing Richmond City Hall was a highlight of the meeting. Brohammer said their short term financing is set to expire in 2015. “It would essentially be a general obligation bond backed by the full faith and credit of the city,” said Brohammer,” We would extend this financing out for about 30 years. We have around $4 million that is owed on the municipal hall complex. Long term financing options are about as good as they’re ever going to get.”
Brohammer estimated the interest rate will be between 4.2 and 4.3 percent. If all goes as planned, a final proposal will be presented to council for approval at the end of February.
In other business, council gave approval to lease land at the waste water treatment plant for hay bailing. Further details will be available on that in coming weeks.
The group also agreed to move forward with a fire department cadet program that would include youth between the ages of 14 and 18. There is no word yet on when the program will begin, but officials are expected to make visits to the schools to make individuals award of the upcoming opportunity.