08 August 2010

Somebody help me translate Muncipalfinancese!

Catching up--been quite hectic round these parts lately--and found this in the July 26 Huntington City Council agenda:

Resolution re: A RESOLUTION OF COUNCIL RETURNING THE ALLOCATION OF THE RECOVERY ZONE ECONOMIC DEVELOPMENT BOND LIMITATION ALLOCATED TO THE CITY BY THE COUNTY COMMISSION OF CABELL COUNTY UNDER SECTION 1400U-1(a)(3)(A) OF THE UNITED STATES INTERNAL REVENUE CODE FOR THE ISSUANCE OF RECOVERY ZONE ECONOMIC DEVELOPMENT BONDS THAT WAS PREVIOUSLY ALLOCATED TO A PROJECT AT THE BIG SANDY SUPERSTORE ARENA FOR THE CITY AND APPROVING THE APPLICATION FOR RECOVERY ZONE ECONOMIC DEVELOPMENT BOND VOLUME CAP WITH THE WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY

I THINK this means that the city is re-applying for the bonds. Fired off an email to Steve Williams, will keep yas posted. And I will be getting back to those transcriptions once things get less hectic here.

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