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

2 years 7 months 4 weeks ago October 28, 2014 Oct 28, 2014 Tuesday, October 28 2014 Tuesday, October 28, 2014 6:44:00 PM CDT 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
COLUMBIA - A judge sentenced a Columbia woman found guilty of second-degree murder to 20 years in state prison today.... More >>
57 minutes ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 8:07:00 PM CDT in News
COLUMBIA - The Columbia Conventions and Visitors Advisory Board (CVB) gave an informational update regarding MU's plan to rent out... More >>
1 hour ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 7:37:00 PM CDT in News
MONITEAU COUNTY - Two families have stepped forward in agreement with allegations made about inmate mistreatment at the Moniteau County... More >>
1 hour ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 7:25:00 PM CDT in News
COLORADO SPRINGS, Colo. (AP) — Missouri Republican Gov. Eric Greitens is meeting with donors aligned with the Koch brothers. ... More >>
2 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 7:01:00 PM CDT in News
COLUMBIA - The people involved in a double shooting in Columbia Monday apparently knew each other, according to the Columbia... More >>
2 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 6:19:00 PM CDT in News
JENNINGS, Mo. (AP) — A suburban St. Louis narcotics suspect who collapsed during police questioning has died and a police... More >>
2 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 6:14:00 PM CDT in News
COLUMBIA - A man drove into Mizzou Arena through a closed gate on the south side early Sunday morning and... More >>
3 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 5:33:00 PM CDT in News
KANSAS CITY - A Kansas City area teenager told police he was high on mushrooms when he crashed his car... More >>
4 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 4:26:00 PM CDT in News
COLUMBIA – Columbia College will ban tobacco use on its campus starting in August. This includes traditional products like... More >>
5 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 3:21:00 PM CDT in News
ST. LOUIS (AP) — Police are looking for a 15-year-old boy who is suspected of fatally shooting one man and... More >>
6 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 3:03:18 PM CDT in News
COLUMBIA - The Missouri Foundation for Health has awarded $700,000 to support the construction, planning and programming of an agriculture... More >>
6 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 2:56:00 PM CDT in News
COLUMBIA – The Food Bank of Central and Northeast Missouri serves 32 counties per year, but seasonal challenges may make... More >>
7 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 1:49:00 PM CDT in News
JEFFERSON CITY (AP) — The Missouri NAACP is issuing an advisory telling travelers to be careful while in the state... More >>
7 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 1:36:00 PM CDT in News
COLUMBIA - Sometimes we feel like we just need some assistance to gain our competitive edge, right? We are training... More >>
8 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 12:55:00 PM CDT in News
WASHINGTON (AP) — The Supreme Court has ruled that churches have the same right as other charitable groups to seek... More >>
11 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 9:26:00 AM CDT in News
ST. LOUIS (AP) — A Confederate monument will be removed by Friday from a St. Louis park under a deal... More >>
11 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 9:16:00 AM CDT in News
KANSAS CITY, Mo. (AP) — Roughly 200 law enforcers including the FBI have searched the county jail in Kansas City,... More >>
12 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 8:35:28 AM CDT in News
COLUMBIA - Westlake Ace Hardwares throughout Missouri are collecting donations from customers to purchase fans. Those fans then go... More >>
13 hours ago June 26, 2017 Jun 26, 2017 Monday, June 26 2017 Monday, June 26, 2017 7:21:00 AM CDT in News
Columbia, MO
Broken Clouds 63°
10pm 64°
11pm 62°
12am 62°
1am 61°

Select a station to view its upcoming schedule:

Coming Up Next

7:00p
American Ninja Warrior
9:00p
Spartan: Ultimate Team Challenge
10:00p
KOMU 8 News @ 10
8:30p
Whose Line Is It Anyway?
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld

Tonight's Schedule

7:00p
American Ninja Warrior
9:00p
Spartan: Ultimate Team Challenge
7:00p
Supergirl
8:00p
Whose Line Is It Anyway?
8:30p
Whose Line Is It Anyway?
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld