The City of Dothan will save about $14,000 per year after commissioners voted to refinance a pair of bonds it accepted in 2009.
According to Dothan ‘s finance director Lisa Reeder, the city had to wait a minimum of 10 years before considering the refinancing of two bonds that paid for sewer and water projects. The interest rate on the bonds dropped from 3.5 percent to 2.38 percent – saving the city $151,402.32 by August 2030 when the financing agreements mature.
The principal left on the two bonds is $3,335,000, according to a city document. PNC Bank of Birmingham refinanced the bonds.
In other action, the commission:
>> Approved an agreement with the Houston County Commission for the construction and maintenance of a roundabout at the intersection of Taylor Road and South Park Avenue.
>> Approved an agreement with the Houston County Commission to relocate 650 linear feet of water main, which will facilitate the construction of a roundabout at the intersection of Taylor Road and Campbellton Highway. State funding will pay 90 percent of the project’s costs, leaving the city with a bill not to exceed $8,233.19.
>> Entered into an agreement with the Alabama Department of Transportation to relocate the sewer and water lines along Denton Road ahead of the construction of additional lanes. The state will reimburse the city for the work, which is expected to cost $1,477,218.
>> Rezoned property owned by Ryan Kriser at 1210 West Main St. from B-3 (local shopping) to B-1 (central business).
>> Rezoned property owned by Darby Stickler at 4555 East Cottonwood Road from B-2 (highway commercial) to A-C (agricultural-conservation).
>> Rezoned 56.45 acres of land owned by Peppi Cooper at the intersection of Rowland and Beverlye roads from A-C, R-1 (residential single family) and B-2 to R-3 (residential single family, high density). The measured passed 6-1 with District 2 Commissioner Janasky Fleming dissenting.
>> Awarded Geisler Contracting of Headland the bid to extend sidewalks along Alexander Drive at a cost of $81,064.11. Community Development Block Grant money will fund the project.
>> Executed a change order in the contract with Tolleson Construction for the construction of The Lodge at Eastgate Park, dropping the final price of the agreement by $2,448.88 to $1,319,485.12.
>> Accepted a construction easement for a sewer line on J.B. Chapman Road from Alfred Saliba Development Corporation. Mayor Mark Saliba abstained on the vote.
>> Accepted a construction easement for storm drainage maintenance on North Pontiac Avenue from Suzanne L. White.
>> Confirmed the cost incurred in notification and abatement of repeat offender properties and turned the cost over to the county tax collector so that the totals can be assessed on the respective parcels of land.
>> Confirmed the cost incurred in notification and abatement of certain properties in resolutions 2019-54, 2019-78, 2019-79 and 2019-104 and turned the cost over to the county tax collector so that the totals can be assessed on the respective parcels of land.
>> Declared certain properties overgrown with weeds and other vegetation as injurious to the health, safety and welfare of the community and called for a public hearing on the matter at the July 16 meeting.
>> Awarded bids and approved other purchases worth more than $15,000.
>> Approved advance travel requests for city employees.
>> Approved applications for retail beer licenses at both Pizza Hut locations in Dothan.