Fulton pays off city bond early, holds bond-burning ceremony

3 years 8 months 3 weeks ago Tuesday, October 28 2014 Oct 28, 2014 Tuesday, October 28, 2014 6:44:00 PM CDT October 28, 2014 in News
By: Paige Travis, KOMU 8 Reporter
loading

FULTON - The city of Fulton paid off a $4.8 million dollar bond five years earlier than anticipated, and celebrated by hosting a bond-burning ceremony Tuesday.

City officials and members of the community came together to celebrate a 20-year bond, retired five years early, by burning a replica of the bond Tuesday evening.

The city originally issued the bond in Spring of 1999 with the intention to pay off the bond in 2019. In 2010 the city defused the original bond and reissued it at a lower interest rate.

A major function outlined in the bond included the creation of infrastructure for the Fulton Dollar General distribution center. After operating for 15 years, the center employs 650 people living in mid-Missouri.

Dollar General Operations Manager Joseph Hunter said building the infrastructure for the company was an integral piece because of the high volume of traffic needed for operation.

"For us it's been a great partnership with the city of Fulton. We're grateful for Fulton... We're glad to call it home," Hunter said.

The city's Chief Financial Officer Kathy Holschlage said two community TIFs allowed the city to prepay most of the debt on the bonds.

"It helps the city retire that debt. It also helps the taxing entities, " Holschlage said. "Just because the bond is paid off, the TIF will remain in existence."

Holschlage said the remainder of the district TIFs would continue to benefit the community.

"This is a major accomplishment. Five years early just does not happen frequently," she said.

The city plans to use the remainder of the TIFs to fund public establishments throughout the city.

 

More News

Grid
List
WASHINGTON (AP) — President Donald Trump's choice for the Supreme Court has given members of Congress a pile of material... More >>
13 hours ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 2:52:51 PM CDT July 21, 2018 in News
WASHINGTON (AP) — The maker of a permanent contraceptive implant subject to thousands of injury reports and repeated safety restrictions... More >>
13 hours ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 2:28:05 PM CDT July 21, 2018 in News
(CNN) -- The man accused of carrying out last month's deadly shooting at a Maryland newspaper has been indicted on... More >>
14 hours ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 1:42:30 PM CDT July 21, 2018 in News
COLUMBIA - The 2018 Show-Me State Games kick off Friday, bringing thousands of athletes, coaches and fans from around the... More >>
14 hours ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 1:15:00 PM CDT July 21, 2018 in News
ASHLAND – Seven locations throughout the state are open Saturday for parents to come and get their children I.D.’d, free... More >>
15 hours ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 12:58:00 PM CDT July 21, 2018 in News
(CNN) -- Gracelyn Mae Violet Griffin already had a "Little Nugget" onesie picked out for her before she arrived in... More >>
15 hours ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 12:35:28 PM CDT July 21, 2018 in News
JEFFERSON CITY (AP) — An organization backing one of three competing medical marijuana initiatives in Missouri has continued to bring... More >>
16 hours ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 11:26:00 AM CDT July 21, 2018 in News
COLUMBIA - A group of Columbia moms is starting Missouri Disability Empowerment, a new organization with big goals to help... More >>
21 hours ago Saturday, July 21 2018 Jul 21, 2018 Saturday, July 21, 2018 6:33:00 AM CDT July 21, 2018 in News
LAKE OF THE OZARKS - 64 years later, a different lake and nearly triple the death toll, the duck boat... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 9:12:00 PM CDT July 20, 2018 in News
(CNN) -- Russian intelligence operatives attempted to hack into the online accounts of staffers on three congressional campaigns in the... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 8:46:27 PM CDT July 20, 2018 in News
CHARLOTTE, N.C. (AP) — As Charlotte, North Carolina, celebrates being chosen Friday to host the 2020 Republican National Convention, an... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 8:05:32 PM CDT July 20, 2018 in News
(CNN) -- A cardiologist who treated former President George H.W. Bush was killed Friday morning in a bicycle-to-bicycle drive-by shooting... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 7:34:02 PM CDT July 20, 2018 in News
COLUMBIA - The Columbia Police Department will move into a new neighborhood over the next few weeks. In July,... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 6:41:00 PM CDT July 20, 2018 in News
CALLAWAY COUNTY - A Steedman man was sentenced to 12 years in prison after pleading guilty to charges of domestic... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 5:22:00 PM CDT July 20, 2018 in News
ST. JOSEPH (AP) — A Missouri man has pleaded guilty in the fatal beating of his 77-year-old grandmother while he... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 3:59:00 PM CDT July 20, 2018 in News
(CNN) -- The FBI is in possession of a recording between President Donald Trump and his former personal attorney Michael... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 3:38:16 PM CDT July 20, 2018 in Continuous News
JEFFERSON CITY – House Minority Leader Gail McCann Beatty will resign from the Missouri House of Representatives effective Sunday in... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 12:57:00 PM CDT July 20, 2018 in Top Stories
COLE COUNTY — The Cole County Sheriff’s Department responded to possible weapons violation on Thursday night. When the officers... More >>
1 day ago Friday, July 20 2018 Jul 20, 2018 Friday, July 20, 2018 11:47:00 AM CDT July 20, 2018 in Top Stories
Columbia, MO
Broken Clouds 70°
4am 70°
5am 69°
6am 68°
7am 68°