Caraway Council reviews 2002 budget proposal
The Caraway City Council met in special session on November 26, and reviewed 2002 city budget proposal, purchase of new fire truck, and state funding received.
Caraway Mayor Danny Dunigan presented the proposed 2002 city budget for the council to review before taking action to finalize.
"We need to look at revenues coming up for about 6 months before making changes in our budget," Dunigan said. "If everything goes well, perhaps we can consider the possibility of four percent raises."
Dunigan passed out copies of a letter from city attorney, Charles Frierson III, to Emergency One, Inc., concerning the municipal lease and option agreement to purchase a new fire truck.
The council voted to enter into a leasing agreement to purchase the new fire truck from Emergency One, of Oak Brook, IL, for a total cost of $128,965. A $35,000 down payment will be required. The council is still considering the length of payments, which will be either annual payments of $10,673.57 , for 12 years, or payments for 5 years, with a balloon payment at the end.
"We plan to use Act #833 money, on hand, and legislative funding to make the down payment with annual payments to be made with future Act #833 funding," Dunigan said. "This will allow us to make the purchase without any liability to the city."
Mayor Dunigan expressed his appreciation, on behalf of the city, for the his help in obtaining state money for the city sewer project and fire department .
"Bill did a wonderful job in helping us," Dunigan said. "The people of our city should be very appreciative of his efforts. This is the most money that the city has ever received at one time."
Mayor Dunigan, Jerry Vaughn, Terry Couch, Murel Bard and Bill Gipson were on hand for the special presentations from Arkansas Governor Mike Huckabee. Also present was Jim Pickens, Director of AR Department of Economic Development.
State funding checks received included: $341,333 from ADED, for city sewer project; $53,128 from AR Legislature Capitol Improvements, for sewer project; and $7,969.30 from the Department of Financial Administration for fire department use.
The next regularly scheduled meeting will be on December 13 at 6 p.m.