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RBS Council okays $40,000 tax anticipation note
by Melissa Falls
5 years ago | 127 views | 0 0 comments | 6 6 recommendations | email to a friend | print
The Red Boiling Springs City Council, at a special called meeting held April 12, adopted a resolution to issue a $40,000 tax anticipation note to pay for the used fire engine that they voted to purchase at their regular meeting in January.

The note will be issued after receiving approval from the state comptroller's office. At that time, the city will borrow the $40,00 from Macon Bank & Trust.

The plan is to repay the note with city tax dollars. Mayor Hollis, at the January 17 meeting, asked council members to consider adding a dollar or so the the tax rate to repay the loan.

When the tax rate was set at the April 13 meeting, however, council members voted unanimously to leave the rate at $1.40.

The fire truck is being purchased from Deep South Truck & Equipment of LaFollette, Tennessee.

The council will meet in special session on Wednesday, April 26 at 4:30 p.m. to discuss the city's lawsuit against the state.
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