- Associated Press - Thursday, June 5, 2014

COLUMBUS, Miss. (AP) - The city of Columbus is borrowing $5 million to finance capital improvements.

The Commercial Dispatch reports (https://bit.ly/1uio1QV ) the bond issue was approved Tuesday on a 5-1 vote with Councilman Bill Gavin opposed.

A 1.1 mill property tax increase will be levied to off the bond over 15 years.

The city council plans to prioritize projects on the infrastructure survey compiled by city project managing and engineering consultants. Councilmen will decide whether to split the money among the city’s six wards or used to address the most critical needs citywide.

The legal and engineering fees will amount to about $500,000, leaving $4.5 million for actual work.

Gavin says 15 years was too long a financing plan and he couldn’t vote for it without establishing how the money would be allocated.

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Information from: The Commercial Dispatch, https://www.cdispatch.com

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