The Crestwood Board of Aldermen will meet at 8 p.m. Tuesday, Nov. 8, at City Hall, 1 Detjen Drive.
The meeting will start one hour later than usual because of the election in which city voters will decide whether increases are needed in the city’s merchant license fee and the city’s tax on utility gross receipts.
Board of Aldermen President Tim True-blood told the Call he hopes to discuss the possibility of placing two measures on the April ballot — a general obligation bond issue and an increase in the property tax rate.
Aldermen recently approved a motion instructing City Attorney Rob Golterman to draft an ordinance placing a general obligation bond issue on the April 4 ballot. The general obligation bond issue, if placed on the ballot and approved by voters, would be used to “pay off and end the use of the line of credit and bring all funds to a current balance of zero,” according to the motion made by Trueblood of Ward 2 and seconded by Ward 4 Alderman Pat Duwe. The amount of the general obligation bond issue was not specified in the motion, which aldermen approved with a 7-1 vote. Ward 3 Alderman Jerry Miguel was opposed.
Aldermen planned to consider the ordinance Oct. 25, but postponed discussion until the Nov. 8 meeting.
“What I would like to do at the next regularly scheduled meeting (at 8 p.m. Nov. 8) is to fully put before the board two options of which I hope both are put on the ballot in April,” Trueblood said. “One would be a general obligation bond in the amount that would pay off the long- and short-term debt packages … that we currently owe South-west Bank. The other would be a small increase — 12 cents, which is a 50 percent increase — on the property tax rate so the citizens have a couple of options.
“One, they could say yes to both, in which the city would be out of long-term debt and be able to fund its future debt and services appropriately … The other option would be voting for just the bonds, which means at least the city would be out of the debt package we’re currently incurring. The other one would be just the 12 cents, which is the number I’ve used, permanent tax increase on our property, which, quite honestly, probably would not do much more than slow the hemorrhaging down …,” he said, noting that any revenue generated by an increase in the property tax rate would not available until 2007.