At Monday’s city council meeting, Mayor Butch Berry addressed whispers in the wind that the city suffered a loss of $1,800,000. He explained that Ord. 2265, which council passed, was the city’s plan for paying down water/sewer bonds. Attached to the ordinance was an amortization schedule. In preparation for discussion of the ordinance, Berry had asked the finance department to run several possible scenarios for paying down the bonds, and unfortunately a schedule which included an error made it into the packet for council.
He said the error was quickly rectified. “There was no impact on the legislation or the city budget,” and claimed the ordinance demonstrated council’s oversight and accountability to citizens to reduce debt and save taxpayers money.
He reiterated there never was a loss of $1,800,000.