07/12/16   Bearden Council Votes To Move Ahead With 1.4 Million Dollar Water Tower Project

 

The Bearden City Council met for two hours last night including a half hour public hearing at 6:30 to give residents an opportunity to ask questions about a bond ordinance for the water tank project and sewer project. The council voted to move ahead with the water tower project. The city's legal counsel, Michael Moyer, representing the Friday Law Firm in Little Rock, explained the next step in the water tank project.

The total cost to the city for the water tower project is 1.4 million dollars. Moyer said the fixed interest rate would be 1.5 percent plus a one percent state fee. Amortized payments by the city wouldn't start until 2019, up until that time the city would be making interest payments.

In other action pertaining to the water towers, the council voted to restore the old water tower behind city hall at a cost of about $323,000.00.