SMACKOVER — Smackover City Council approved a bond ordinance during its Monday meeting.
Recorder/treasurer Rick East said in an email the bond will be used for work necessary on the wastewater treatment facility.
"[It] is just a standard bond to obtain monies for the work," East said in the email. "The ordinance was passed with no questions or concerns by council."
East said the bond has been approved before for the wastewater treatment facility in previous years.
In March 2016, Smackover issued a $690,000 Water and Sewer Refunding Revenue Bond, Series 2016 with an interest rate of 3.45%. "The Department issued bonds to refund $648,158 of the outstanding Series 1992 and 2002," according to page 21 of an Arkansas Legislative Audit report for the city's enterprise and service funds for
Dec. 31, 2017 and 2016.
A public meeting was held before the council met regarding the "proposed ordinance authorizing issuance of revenue bond — improvement of sewer."
East was unavailable for further comment and the city council members could not be reached by the time of publication.
The council also discussed the Boys and Girls Club, candidate for representative Gary Smith and the budget for 2020.