Clarksburg City Council met Thursday evening and held a second reading and adoption of a bond authorizing ordinance.
The bond is a sales tax revenue refunding bond for the Robinson Grand Preforming Arts Center. City council approved that bond and stated that the bond is not to exceed $11,000,000 for the purpose of refunding and redeeming in full the city’s sales tax revenue bonds from 2017.
“This money actually relieves us with the debt with MVB and put us in permanent financing with with the USDA, and its favorable terms to the project,” said Martin Howe, Clakrsburg City Manager.
Also, council is also using sales tax revenue bonds for a road embankment repair project. Those bonds are to not exceed more than $2,750.000 to make repairs to road embankment failures throughout the city.