Jacksboro council tables action on certificates of obligation

Tue, 05/19/2020 - 11:32 am

City Manager Mike Smith (left) speaks about the $3.5 million in certificates of obligations the council considered as aldermen Craig Fenter listens on. Photo/Nathan Lawson

The Jacksboro City Council decided to table their $3.5 million decision on certificates of obligations for a complete overhaul for city streets until July citing the downward trend of the economy during COVID-19.

The council, during its March 23 meeting, approved the publication of a notice of intent to approve the certificates in the May 11 meeting.

“I had a ratings call with Standard and Poor’s last week,” City Manager Mike Smith said. “We don’t have the official report back yet, but I will tell you their comments us that regardless of our financial positions is that the ratings for cities going into this next year are going to be pretty bad.”

For the full story, see the Wednesday, May 20, edition of the Jacksboro Herald-Gazette.