As the City of Meridian looks to future capital improvement projects, Mayor Jimmie Smith said a bond issue should be considered to cover the costs. In a meeting Nov. 15, he told the council he was recommending a $20M bond issue to tackle needed improvements. The city has 44 buildings under its control. He also recommended spending about $12M on paving, with the rest earmarked for recreation. There is $362M of assessed property on the tax roles in Meridian and state law allows the city to borrow money up to 15% of the assessed values. Tray Hairston of Butler Snow LLC has helped the city with previous bond issues. The city currently has about $29M in debt, which means the city can borrow about $24M more. Hairston said he would recommend discussing the bond issue at a future work session and come up with an overall game plan. (Meridian Star 11/16/22) Mayor pushes for $20 million bond issue | Local News | meridianstar.com
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