City Council Enacts Revenue Saving Measures

Washington City Council worked through a day to day business agenda on Thursday night. The agenda was highlighted by two measures that will save tax money and free up spending. The first measure approved was the authorization to pay off the city’s $1 million Tax Anticipation Note. According to Director of Finance Ken Wescott, revenues arrived earlier this year so that enabled the city to pay off its note about three months earlier than normal. Council then agreed to refinance the City’s Bond Issue and extend the payment by one year. Instead of the remaining $1 million dollars being paid off in September of 2026, the bond will now be retired in September of 2027. According to Westcott, the action will free up approximately $500,000 of available cash to city coffers annually over the next three years. The city will also be saving money on electricity. Council approved a $125,500 LED Lighting Conversion Project to install LED lighting to all city lampposts. Westcott said the money will be provided by a State LSA grant and no city funds will be expended.