Brownwood City Council members approved action Tuesday that will save the city about $50,000 in interest, and the Brownwood Economic Development Corp. about $30,000 in interest, on what had been short-term debt.
Council members acted on Finance Director Walter Middleton's recommendation to convert short-term debt into long-term debt by pledging future property tax revenue against the debt.
Middleton said the city is looking at the possibility of taking on "significant" new debt in 2012 including:
• The possible issuance of $10 million in certificates of obligation to fund street improvements, wastewater treatment plant improvements and Phase II of the parks improvement plan.
• The possible construction of a facility to produce drinking-quality water from effluent water from the wastewater treatment plant. The facility, if it is built, could cost $6 million to $8 million and would likely be financed through a loan from the Texas Water Development Board.
In other business Tuesday, the council:
• Recognized city employes with 10 or more years of service.
• Heard a year-end report from Freda Day on the activities of the Corrine T. Smith Animal Center.
• Approved spending $35,635 from an insurance settlement to buy new lift mechanisms for two sanitation trucks. The settlement was from an August accident on FM 45 that totaled a sanitation truck and was not the fault of the sanitation truck driver.
• Approved an ordinance on second and third readings adopting the 2009 Edition if the International Building Code; Residential Code; Property Maintenance Code; Mechanical Code; Fuel Gas Code; Existing Building Code; Energy Conservation Code; Plumbing Code; Fire Code; and the 2011 Edition of the national Electric Code, including any local amendments to the codes, and establishing a Unified Board of Appeals.
•.Awarded a bid to Municipal Water Works for $178,295 for materials to place 6-inch water mains in various locations within the city.
• Ratified mayoral appointments to the Airport Board, Audit Committee, Brown County Appraisal District, Building and Standards Commission, Center for Life Resources, Civil Service Commission, Transportation Museum, Library Board, Planning and Zoning and the Zoning Board of Adjustments.