Jacksboro council examining $3.5 million road project options

The city of Jacksboro explored a couple of options Monday, March 23, for financing a complete overhaul of city streets which could cost up to $3.5 million.

Hilltop Securities Inc.’s Laura Alexander spoke to the council and said a debt service refunding opportunity was no longer available. However, she did present a plan for the city to take on the $3.5 million in certificates of obligations.

City Manager Mike Smith presented an alternative option to certificates of obligation later in the meeting.

He said rather than taking the $3.5 million as a certificate of obligation, the city could keep the tax rate at approximately the same rate for 10 years and collect around $2.5 million which they could dedicate specifically for street repair.

No decision on either option was made in meeting. The council is slated to meet again on Monday, April 13.

For the full story, see the Wednesday, April 1, edition of the Jacksboro Herald-Gazette.