Ferriday focuses on street repair
Published 12:02 am Friday, February 12, 2016
By Cain Madden
The Natchez Democrat
FERRIDAY — Members of the Ferriday Board of Aldermen voted unanimously Wednesday to have engineer Bryant Hammett look at all the streets in town to determine the priority of needed repair.
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The board also unanimously approved $1.28 million in general obligation bonds from Patterson State Bank at an interest rate of 2.54 percent. The total interest to be paid back was approximately $69,000 less than what Delta Bank, the second lowest bidder, offered.
Bond attorney Alan Offner of Foley and Judell equated the general obligation bonds with a millage rate of 10.5 or about $107,751.35 per year. This does not obligate the town to raise taxes, but is just a measure of what the debt could equate to.
Mayor Gene Allen said raising the millage rate is a council decision, but that he didn’t believe the aldermen have any plans to do that.
“I believe it is going to be funded through our current revenues,” he said.
The funds will be wired to a construction account on March 21.
Allen specifically noted Woodland Avenue, Serio Boulevard, Virginia Avenue and 10th Street.
“I thought the conclusion was that all of the streets needed repairs?” District D Alderman Johnnie Brown said.
Brown offered the motion to have Hammett look at all roads in town.
Earlier in the meeting, the town council voted unanimously to write-off $68,357.13 in water, sewer and garbage bills from the books dating back to 2012. The accounts are closed but still have balances.
Mayor Gene Allen said the only option left is to try to sue, but he added that would only make the courts and lawyers money.
“The money is not there to collect,” he said. “On the books, it looks like we have receivables coming in that we are not going to collect.”