The Baldwin City Council agreed Monday night to re-financing the 2012 bonds.
The re-financing will cut three years off the payoff – from 2038 to 2035 and will also save the city $272,000.
Finance director Melanie Chandler advised the board at the work session on October 6 that the re-financing will allow the city to use funds as it goes along for infrastructure projects.
“This will free up money to use on infrastructure,” Chandler said.
OTHER ITEMS APPROVED ON MONDAY
Other items approved on Monday include:
•an attorney services agreement with Dale R “Bubba” Samuels LLC that sets the fee for paralegal services at $50 per hour.
•the second reading of the city’s minimum development standards. The city’s standards are based on the Georgia Stormwater Management Standards.
•the first reading of the variance request from Adams Homes for four lots in Highland Pointe Subdivision. The variance request is to reduce the front setback on Lots 6, 7, and 10 from 35 feet to 25 feet.
•the first reading of the Georgia Department of Transportation Speed Zone Ordinance. This ordinance allows for the use of speed detectors in the school zone during the hours of 6:45 a.m. through 4 p.m. daily. Council member Alice Venter said, “We did not approve this as a revenue generator. It is for the safety of the kids at Baldwin Elementary School.” Venter said the BES playground is the closest to the road of any in the state. Police chief Matt Nall said there had been a 70-percent reduction in the number of warnings sent out. He said almost 600 warnings were sent out during the first day of use and that number had dropped to around 200.
Other issues discussed on Monday that will be on the agenda for the council meeting at 6:30 p.m. on Monday, Oct. 26, include:
•the Georgia Environmental Finance Authority (GEFA) loan modification for the city’s elevated water tank to extend the completion date to May of 2022.
•the second reading of the LCTL Properties LLC annexation request.
•the second reading of the LCTL Properties LLC zoning request.