The city of Greenwood is getting one step closer to a bond issue in order to fix and repave the city’s streets.
During Wednesday’s meeting, the City Council approved a resolution to allow the sale of bonds to a development bank, as explained by Jamie Holloway, a municipal adviser for the city.
Holloway said that following a meeting next week in Jackson to discuss the details of the bond, the city should be issued the money sometime around Dec. 18.
The bond interest rate is 2.35% on a 15-year term, Holloway said.
“That’s an awesome rate,” Mayor Carolyn McAdams said.
The bond cannot exceed $7 million. In a council meeting last month, the mayor said a bond issue of $6 million is more feasible in order to have more reasonable payments.
According to Holloway, the repayments each year would be around $500,000.
McAdams has already asked each council member to submit to her a list of streets that need repairs. Council President Ronnie Stevenson said repairs will probably start in the spring.
Also Wednesday, Debra and Earnest Adams, the husband-and-wife duo behind the Greenwood Community Center, a nonprofit, visited to ask for a donation from the city.
The Adamses have been going around the county seeking contributions from different types of organizations. Debra Adams told the council that they need $21,000 to finish phase one of the renovation process for the community center building at 709 Ave. I.
The Adamses had purchased the former St. Francis Community Center building earlier this year, with hopes that the building would be renovated and opened by the summer. However, renovations are still ongoing.
Stevenson told the Adamses that the council has already set the city’s budget for the fiscal year. He advised them to talk to the mayor, who has a contingency fund that could possibly be used to donate money to the center.
The Adamses have said that once the building is completely renovated, the center will provide a variety of services, such as after- school tutoring, GED classes and recreational activities.
Ward 5’s Andrew Powell was absent from the meeting.
In other business:
• The council approved a $5,000 donation to Delta Cotton Belles. The nonprofit, which operates in 10 counties through Mississippi and Arkansas, including Leflore County, provides breast health education programs and other similar services for breast cancer patients.
• The city of Greenwood and the Leflore County Humane Society entered into an agreement to allow the city to use the Humane Society’s animal shelter to hold stray and unwanted animals.
• The city will receive an award for its Yazoo River Trial and Arboretum, McAdams said. The mayor will attend an awards ceremony sponsored by the Mississippi Urban Forest Council in New Albany on Thursday.
• Met for about 30 minutes behind closed doors to discuss personnel matters, according to the mayor.
• Contact Gerard Edic at 581-7239 or email@example.com.