Many Fairfield citizens, business owners, former mayor Roy Hill, and a few former council members attended the City Council meeting on January 22, 2019; some to voice their opinions and concerns regarding the possibility of a new bond.

This bond would be used for several projects the City wishes to accomplish in the next few years, such as purchasing the Navarro College Campus as the new City Hall, street repairs, street lighting, new restroom at the fairgrounds, and a concession/bathroom for the soccer field.
An unsubstantiated rumor around town, and on social media, stating that the City would be looking to obtain a $7.5 million bond, significantly higher that what is actually being considered, rightfully had many people concerned for the future of the City.

“With the plant/mine shut down and businesses closing, it’s really bad timing to seek a bond for the City,” says former mayor Hill. “It’s a bad move to do this at this time. There may be more options available you have yet to look into. I request you put this off for now.”

Resident Don Thornton equates the acquiring of a bond to burying the City in debt and smothering it to death. “I ask the Council to reconsider this,” he says.

Business owner Barry Capps (standing at right) explains that he believes in the government to make decisions, but asks, “Is it morally and ethically right for citizens to be strapped with debt? It is my opinion that we should walk away from this bond. I cannot fathom this is a good deal for the City of Fairfield,” says Mr. Capps.

James Bonner, Fairfield resident, asked Council to “Think about what ya’ll are doing. I would rather you build a brand new one [City Hall]. I’m betting you could get one for a lot less money.”

As these comments were made during the Visitors and Citizens Forum, Mayor and Council were unable to address these concerns at that time.
Council was given a presentation from Bond Council, Dusty Traylor of RBC Capital Markets, on financing options for funding proposed City projects.

Currently, the City has one outstanding bond that should be completely paid off within the next year or two. Its balance is approximately $1.5 million. The present bond rating for the City is an A3, which is a very good rating.

Mr. Traylor gave four bond options based on the assumption that the bond would be for a twenty-year period, however, the length of a bond can be adjusted to meet City needs. The interest rate would be 4%, give or take. If the bond is issued in May of 2019, the first payment would be made in March of 2020.

The four options were $1.2 million, $3.5 million, $5 million in one lump sum, or $5 million divided into $3 million in 2019 and $2 million in 2020.

“You’re positioned very well to take on a bond,” explains Traylor to Council. “Bonds are for capital improvements, not running the city. You’re proposed projects are right in line.”

No discussion was had regarding what monthly payments would be for the different bond amounts.

Council did not take any action on this item that night. They will have further discussion prior to taking a vote on this matter.

City Administrator Nate Smith encourages citizens to contact him or Council members to discuss their opinions and concerns regarding a bond and future projects.

Fairfield Council will be upgrading from paper and ink to i-Pads, bringing them up-to-date with the majority of councils around the state. Though the initial purchase of the technology will come at a cost of approximately $600 per device, the savings on paper, ink, and time will far outweigh those costs in the long run. There is currently $5,831 in the budget for this type of purchase.

Council unanimously approved the purchase of the i-Pads.

Billy McMillian with Little Dribblers requested $30,000 from the Hotel/Motel Fund to bring a four-day National Tournament to the City of Fairfield. These funds would be used to purchase trophies, T-shirts, and other merchandise to sell at the tournament. This event would bring about 150 teams to town that would require hotels and restaurants during their stay.

Council unanimously approved to sponsor this event.

Now that sponsorship has been offered, a decision from the National Little Dribblers Association will determine if the tournament will be held in Fairfield.

Also approved was the renewal of the current tax abatement guidelines and criteria for the City for a two-year term. State law requires an update every two years. Per Administrator Smith, this is a pretty standard agreement and no changes have been made from what is currently in place.

Resident Justin Turner’s reappointment to the FEDC Board was approved, though not unanimously.

Councilman Place 1 James Tyus voted against, while all others voted in favor.

Turner will now begin his third three-year term on the board. This will be his last term as there is a three-term limit for board members.

A special called meeting will be held on Wednesday, January 30th at noon for the possible hiring of a new police officer and for discussion on the City Administrator’s employee benefits.

Regular meetings are held on the second and fourth Tuesdays of each month at 6:00 p.m. in the Council Chambers at City Hall.