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Madison City Commission approves $9m sales tax revenue bond

The Madison City Commission has approved a resolution authorizing a nine-million dollar sales tax revenue bond.  Commissioners on Monday approved the resolution authorizing the execution, terms, issuance, sale and payment of sales tax revenue bonds not to exceed nine-million dollars.  City Finance Officer Sonya Wilt told commissioners that five million dollars of the bond is for the city’s Rural Development water-sewer project that is expected to be completed in 2022.  Wilt said that the remaining four-million dollars of the bond would go toward the construction of a new city hall and police station.  

Wilt said that there is also currently one-point-seven million dollars in a reserve for the construction of the new building.  The building is being planned for just south of the city Utilities building on South Highland Avenue, which is the former Cars for Les property.  

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