By Gary Lloyd
TRUSSVILLE — The Trussville City Council last week authorized the funding of the warrants and debt structure for the city.
City Clerk Lynn Porter said the series 2014 warrant issue, which totals $58,845,000, refunded a portion of the 2006A warrants that were used for the construction of Hewitt-Trussville High School ($28,070,000). It also refunded the 2009 warrants, which totaled $30,775,000 with approximately $11.7 million in refunding, that were used for the Paine Elementary Campus, some paving, sewer extension and some new money for projects. The remaining money is new money, Porter said.
A Trussville historical marker outside Trussville City Hall
file photo
“This refunding is basically the same thing as refinancing your house to get a better interest rate,” Porter said.
She said the new money portion will be used to pay for the new Hewitt-Trussville Stadium, the extension of Husky Parkway, the Husky Parkway bridge and other public projects. Those projects may include right-of-way acquisition for the widening of U.S. Highway 11 and Chalkville Road, the extension of Valley Road, paving and possibly the expansion of city facilities.
Contact Gary Lloyd at news@trussvilletribune.com and follow him on Twitter @GaryALloyd.
