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Tuscumbia approves bond for road resurfacing

The Tuscumbia city council has approved a 2 point 4 million dollar bond that will be paid off in the next twenty years.

Posted: May 11, 2018 6:50 PM

Some financial relief on the way for one Tennessee Valley city...

The Tuscumbia city council has approved a 2 point 4 million dollar bond that will be paid off in the next twenty years.

Here on North Commons Street in Tuscumbia, the Mayor tells WAAY 31 that seven miles of roadways including this one will be resurfaced using some of that bond money.

Tuscumbia Mayor Kerry Underwood said the city coulcil will approve how the money will be spent, but there are a lot of projects like new equipment that the bond money will be used for. The city council has asked each department head to give them a list of what they need to make their departments better.

"The big thing to remember is that we're actually saving 135,000 dollars a year in payments with this one deal. So flexibility in our annual budget goes for the next 20 years so that's a lot of free money we could use to do other things in our budget as well as improvements," Underwood told us.

The city council unanimously approved this 2 point 4 million dollar bond agreement.

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