City Council to replenish general fund

by / 0 Comments / 31 View / June 28, 2018

By Kierra Pixler, Managing Editor

 

At Tuesday night’s City Council meeting, the council authorized issuing bonds for the purchase of 85.24 acres adjacent to Heritage Park to replenish its general fund. It will take them 12 years to pay off the debt with a three percent interest rate. It will be underwritten by Austin based SAMCO Capital Markets. Belton’s Finance Director notes that the three percent interest rate was “very competitive.” While a plan for the park is still in the works, Belton does plan on incorporating residents views on how it should be done.