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Century To Use Local Option Sales Tax Funds For Debt Service, Including Past Due Loan Payments
January 24, 2020
The Town of Century will use Local Option Sales Tax (LOST) funds to help with their debt service — including past due loan payments — and free up cash for other uses.
The LOST provides discretionary funding for local governments in Escambia County for infrastructure projects that have a life longer than five years.
For example, Escambia County has used LOST funds for law enforcement, fire and public safety facilities and equipment, transportation and drainage improvements, infrastructure projects, public facilities,recreation and natural resources, jail and court facilities, Growth Management Act mandates, capital equipment community services, and economic development projects. The Escambia County School District has used LOST funds to fund the construction of new schools (such as the new Ernest Ward Middle School in Walnut Hill), renovations, additions to existing schools, land acquisition and improvements, and school technology. In the past, Century’s use of LOST funds has including street paving.
Century currently has just under a $1 million in available LOST funds, according to accountant Robert Hudson. The town council approved his request to use LOST funds as follows:
- $96,249 total for three loan payments, including two past due, for a 2014 gas line relocation project
- between $95,000 and $98,000 for water bond debt service
- about $25,000 in payments to the state revolving loan fund for the water department
“How did we get behind like that?” council member Luis Gomez asked about the past due gas project loan payments.
“Gas has no money,” Hudson responded.
Hudson said the town collects about $250,000 in LOST monies annually.
In the 2014 gas line project, natural gas pipes were relocated to the east and west sides of North Century Boulevard eliminating the need to install individual service lines under the road to service natural gas customers.
Pictured: A 2014 gas line relocation project begins in Century. NorthEscambia.com file photos, click to enlarge.
Comments
12 Responses to “Century To Use Local Option Sales Tax Funds For Debt Service, Including Past Due Loan Payments”
It just gets more and more confusing trying to keep up with Century’s problems.
Seems like a LOST should be used to better the community and not to bail out lousy leadership skills. let the leaders forfeit their paychecks to pay the debt and use the money collected from the people for the people.
Is there a way to impeach the mayor? He might be a real nice guy but hes in over his head. He should resighn and give his sallery back . Thats what a honest person would do. Who where his suporters? i never here any thing out of them an im sure he has them or he would’nt be mayor. i for one would love to here from them
Let’s look at where the loans were used…….certainly the gas relocation project qualifies and I’m assuming any water projects would be considered “capital outlay”…….
” personally visually inspected by competent workers ” I believe this issue starts at the head, with leadership that cannot mange assets properly. I certainly cannot disparage the workers for this.
@ M in Bratt
I agree with you
DID NOT KNOW YOU COULD USE THIS MONEY TO PAY OFF LOANS???????
CAN YOU USE THE LOAN FOR 5 YEARS LIKE A BUS, CAR, FIRETRUCK, ETC????
They would probably have better luck liquidating their creditors.
I would imagine that Century is few options short of human sacrifice, in dealing with her financial.
I would suggest sound accounting and business practices/procedures and policy compliance assurance and ensurance; too many free loaders on the system.
it appears the town is being run by everyone other than the people elected to do the job. not saying it’s wrong, it looks like it had to be done, just says the people of century vote for incompetent candidates, or maybe there aren’t ANY competent candidates.
WHAT?????
Can the LOST monies be used to Pay Debts?
Really question that as understood it was to be used for capital outlay projects, building things for Public Good and the like. NOT to pay debts.
How about fixing the sewage plant and getting it appropriate?
More stuff that “Doesn’t Pass the Sniff Test”.
The gas lines were re-done in 2014 because the old one was leaking under highway 29, or so everyone was told because of the gas loss the town was having. It looks like that was a ruse because the town is still giving away more gas than it bills for. It’s more likely the loss is from two thirds of the gas taps are not being billed (350 or so out of 900 taps).
Here’s your sign. In the months that have passed since this was made public, the entire system could have and should have been physically walked and personally visually inspected by competent workers to ensure each and every tap is being properly billed or the line terminated. Century – A Town Where Nothing Works and Gas is FREE!
Does anybody remember when they told us that this local option sales tax would be used just for “infrastructure” projects? When dealing with the TOC, this tax is very aptly named “LOST” tax. When you hand it to Century, it truly gets lost.