Posted 10/14/09 (Wed)
By Neal A. Shipman
Watford City property owners will be asked to only fund $237,016 of the city’s $2.1 million budget for 2010 following action by the city council during its Oct. 5 meeting.
According to Trish Skoglund, city auditor, the final budget approved by the council is $191,848 larger than last year’s budget, but most of that increase is due to bond payments for the Main Street improvement project.
“The budget includes $554,000 associated with the payment of the two bonds that were issued to finance the Main Street project,” stated Skoglund. “It is important to note that no taxpayer money will be used by the city in repaying the bonds.”
According to Skoglund the city council has committed to fund the payments of the Main Street improvements from oil and gas revenues that it receives.
“Under the terms of the bonds, the city cannot prepay its debt for the first five years,” stated Skoglund. “But after that period, it is the council’s intention to pay off the bonds, which have 20-year terms, as quickly as possible.”
The only other notable addition to this year’s city budget was $30,000 for the expansion of the city’s multiuse path to the west edge of the city’s limits.
The city council, during Monday night’s meeting, also approved a $25,000 Roughrider Fund grant to the McKenzie County Healthcare Systems to help fund a new facility study.
“The healthcare system would like to hire a consultant to help them determine what kind of new facility could be built and stay within the facility’s ability to service the dedt,” stated Tim Taylor, Roughrider Fund chairman.
In other business, the city council:
• Approved the continuation of the Emergency Fund Levy of 2.5 mills.
• Approved a resolution levying a tax for 2010 on all taxable properties in Watford City totalling $237,000 for the 2010 city budget.
• Tabled the second reading of the franchise agreement with McKenzie Electric Cooperative and referred the ordinance to the Franchise Committee.
• Approved raffle permits for the Watford City Area Chamber of Commerce and the Watford City Area Dollars for Scholars.
• Tabled action on a request from the Planning Commission which would prohibit building foundations from being built directly on soil.
• Approved the 2009 Special Assessment List of past due water and mowing bills for certification to the McKenzie County Auditor.
• Approved establishing city fund budget categories for the General Obligation Bond and the Oil & Gas Revenue Bond that were issued for the Main Street improvement project.
• Approved Mayor Pelton’s appointment of Tim Taylor to the Roughrider Fund Committee for a three-year term from Oct. 1, 2009 to Sept. 30, 2012.
The next regularly scheduled meeting of the Watford City City Council will be held at 7 p.m. on Monday, Nov. 2.