During discussion council members said they considered the budget well prepared and made no recommendations to change it.
In a special meeting preceding the workshop the council approved a certificate of obligation with a principal amount of $2 million to build the infrastructure around a proposed Belton middle school on Avenue D.
The vote was the second in a series of five required steps. A public hearing was held Tuesday before the vote. On Aug. 11 proposals are due from banks bidding to buy the bonds at competitive yields. On Aug. 12 the council will adopt an ordinance for the sale of the bonds to the winning bidder. And on Sept. 11 funds will be wired to the city.
During the public hearing, Dr. Vivian Baker, superintendent of the Belton school district, spoke in favor of adopting the measure.
“It’s a growing district,” said Dr. Baker, “and we would appreciate your vote for a new middle school.”
To build the new middle school there will first have to be a BISD bond election, Dr. Baker said.
District officials have said in the past there may be a bond election in May 2009.
Other capital improvement items from a top 10 list of needs, including land acquisition, technology items and a new elementary school, might be added to the bond issue. An initial proposal called for $1.5 million to pay for the infrastructure. The council Tuesday indicated the $2 million they approved would take care of unforeseen expenses.
“We can say with confidence the $2 million will cover the infrastructure costs for the Avenue D Project and may provide additional funds for the Central Avenue (Gateway) project as well,” Listi said.
In June a district official said a new middle school could cost in the range of $35 million.
During the budget workshop, Listi recommended a balanced budget for the general fund with a minimum of three months fund balance. Major themes are to maintain the current property tax rate of $0.6550 per $100 valuation while accommodating debt service for needed public improvements and providing a full range of municipal operations and services.
The proposed budget summary includes projected revenues of $9.2 million, requested expenditures for operations and maintenance of $8.8 million, expenses for capital outlay, transfers and the strategic plan of $396,376 leaving a net impact for 2009 of $4,847 in the black.
In other business during the special meeting, the council authorized a tax abatement agreement with Belco Manufacturing Co. at 2303 Taylors Valley Road. Belco is in the Tax Increment Reinvestment Zone. The abatement is for 70 percent of the ad valorem taxes on the property for five years.
The council also authorized the award of a bid to Rabroker Air Conditioning in the amount of $53,622 for improvements to the heating and air conditioning system at the Fire Station No.2 on Sparta Road.
