Fulton holds ceremonial burning after final mortgage payment

1 year 2 weeks 1 day ago July 12, 2016 Jul 12, 2016 Tuesday, July 12 2016 Tuesday, July 12, 2016 7:53:00 PM CDT in Continuous News
By: Austin Hough, KOMU 8 Reporter
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FULTON - Fulton city officials and residents burned ceremonial mortgage payments Tuesday evening in honor of the last payment being made on the Tanglewood Golf Course. 

The city inherited the nearly $2 million debt in 2004, making payments on it once a year. The city made its last payment of $290,000 on July 1.

With the debt paid off, the city can now start making a profit on the golf course. The money used to pay the debt of the course will now go toward funding other departments around Fulton.

"I think a lot of that money will be spread around the city," Parks and Recreation Director Clay Caswell said. "Various departments have various needs, like the fire department has needs and the police department has needs. So, it'll give us an opportunity for a lot of those departments to get some of the things they really need."

Mayor LeRoy Benton spoke at the event, expressing relief over the debt being paid off.

"It's a great feeling, and I know this [city] council all feels the same," Benton said. "It's been a real part of our history, and we're excited that we could do this."

Tanglewood Golf Course is holding special events all week to celebrate the final mortgage payment. You can look at the full list of events here.

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