City expected to approve 2012-13 budget

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September 24, 2012

City expected to approve 2012-13 budget

Brian Smith CNHI The Weatherford Democrat Mon Sep 24, 2012, 08:00 AM CDT

WEATHERFORD — City officials are expected to approve the next fiscal year budget during Tuesday night’s council meeting.

Council members and staff underwent a number of work sessions to ensure the $27 million budget was sound. The city’s tax rate will remain the same at 46.36 cents per $100 valuation. Just more than 29 cents will go toward maintenance and operation of the city while the rest goes to interest and sinking of the city’s debt.

The effective tax rate is 46.41 cents and the rollback rate is 50.64 cents per $100 valuation.

Keeping the same tax rate will raise more total property taxes by $198,773, according to a staff report. Of that, $96,381 is coming from new property added to the tax roll. The city is also expecting an increase on the collection rate from 96.75 to 97.5 percent. That has no impact on the tax liability for any taxpayer.

Other items on the agenda, which begins at 6:30 p.m. include:

• Awarding a bid for asphalt repairs to A-1 Concrete. The expected cost of the project is $131,750 to be paid within the coming year’s budget. The company will also be doing an estimated $91,650 in concrete work on sidewalks, driveway approaches, gutters, curbs, slabs, storm drain structures and handicap ramps.

• Consider a participation agreement with Chase Bank for a Commercial Card Program.

• Consider adopting an amended fee schedule effective Oct. 1.

• Enter into an executive session for deliberations regarding economic development negotiations with AMG Technology Investment Group and Weatherford Entertainment, LLC.

The meeting starts at 6:30 p.m. Tuesday, Sept. 25, at City Hall Chambers, 303 Palo Pinto St., Weatherford.

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