The city of Poplar Bluff and Municipal Utilities had a combined debt of nearly $52 million at the end of 2017, according to audit documents reviewed Monday by the city council.
The audit was presented by Steve Austin of Kraft, Miles and Tatum. Additional information on the audit will appear in Friday's edition of the Daily American Republic.
Council members also approved rezoning for a trash transfer station near the Poplar Bluff Industrial Park.
Audit
Total city debt should drop by just over 8 percent in 2018, with approximately $4.2 million payments owed.
This will include a final payment of $1.325 million on money borrowed to construct the Black River Coliseum and complete other projects.
The city originally borrowed $16 million in 1998. Voters approved construction of a community center, expansion of the library, a four-field baseball and softball complex, an additional nine holes to the public golf course and the addition of a swimming pool to the community center.
Payments for the coliseum, library and golf projects have come from the city's capital fund, which is generated by a citywide permanent half-cent sales tax.
The remaining outstanding city debt includes $26.5 million owed to the developers of the Eight Points shopping area to reimburse certain allowed expenses for land acquisition, construction costs, professional fees and financing costs for new businesses at the site. This debt is paid through a temporary 1-cent sales tax in the redevelopment area and is scheduled to be paid off by 2033.
Other debt balances at the end of 2017 include (approximate):
* Intersection improvements, Oak Grove Road and Highway 67: $2.3 million
* 2015 technology loan: $3.5 million
* Street sweeper: $164,500
* Fire trucks: $625,500
These payments are made from the city's capital tax fund.
Municipal Utilities
* Water/sewer projects 2008, 2012, 2016: $6 million
* Electric plant addition: $8.8 million
* Settlement agreement with NewWave Communications: $1 million
These payments are made by the utility, through voter-approved bonds. The settlement is paid for with credits from city fees and taxes.
Trash transfer
The city council granted rezoning to a trash transfer station, but owners say it could be a lengthy process to get state permits to open.
Chad and Sara Henson of Piedmont asked for a change from C-2 general commercial to M-2 general industrial and a conditional use permit at a location near Cravens Road and Industrial Park Road. The facility will initially use 1.5-2 acres of an 8.6-acre lot.
The transfer station will be a collecting point for local trash haulers, and could also be used by individuals for a fee, according to previous discussion.
It could take two years or more to get DNR approval, Chad Henson said at a June meeting.
The city will require an 8-foot perimeter. Trash can remain there for a maximum of 24 hours, under Missouri Department of Natural Resources guidelines.
In other business, the council:
* Discussed a conflict of interest policy for municipal officers. This ordinance is passed annually.
* In a workshop and voting session item, re-appointed members to the Green Forest Community Improvement District Board. Randy Persons and Rick Allison will serve as directors through June 2022. The land in this CID is currently vacant, said Massingham. The board asked for re-appointment to keep the district operational, he said.
* Vacated a 540-foot by 30-foot portion of an abandoned right-of-way at North Westwood Boulevard and 2801 Oak Grove Road for First Community Bank.