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The Finance Committee will meet on Thursday, February 16, 2012 at 4:00 p.m. in the HR Conference Room at Prattville City Hall.

Purpose of Meeting:

1. Review needs of Urban Management
2. Review and discuss current ordinance pertaining to residential rental property
3. Update on financial status of city

For questions or further information regarding this matter you may contact the City Clerk's office at 361-3606.

The Wastewater Committee will meet on Tuesday, February 21st at 6:45 a.m. at International House of Pancakes.

Purpose of Meeting:

1. Discuss request to extend sanitary sewer service
2. Discuss management plans

For questions or further information regarding this matter, you may contact the City Clerk's office at 361-3606.

We have 4 paving projects included in the FY 2012 Budget. These projects are funded by federal transportation dollars. In order to take advantage of these funds, the City of Prattville will be required to provide a percentage of the overall costs (or matching funds, as the grantor calls it). Those included, at present, for 2012 are Cobbs Ford Road from US 82 to McQueen Smith Road at a total cost of $525,392. The City will need to cover $107,078 of that total bill. Wetumpka Street at a total cost of $325,000. The City will need to cover $65,000 of that total bill. Sheila Boulevard at a total cost of $325,000. The City will need to cover $65,000 of that total bill. Lastly, McQueen Smith Road from East Main Street to US 31 at a total cost of $325,000. The City will need to cover $65,000 of that total bill. Our "matching funds" will be paid out of the gas tax account. None of these projects will proceed until the dollars are actually in that account so that the City can pay cash. We will not take out loans or finance these projects in any capacity. We do not have a definite timeframe for these projects as the construction to prevent a sinkhole on East Main, as well as the sinkhole on Court St. and Spanish Oak (that will soon be repaired) must both be paid for out of the gas tax account.

These figures show the accounts payable and debt balances for the City of Prattville. All of the other items listed, except for Accounts Payable, are the bond issues that the City makes payments on each May and November. The payment made on November 1st paid off the GO 2006 Warrant. We have now paid off the BankTrust line of credit ($1,000,000) as well.

In the past year (+2 weeks), the City of Prattville has decreased it's overall debt by $9,241,162.59 or 14.2%.