Mayor, Council agree on new bond deal

04.24.2007 by André Natta · → Leave a comment

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The mayor and city council (or most of them) appear to have agreed on a new bond deal to pay for several city projects, including fund for the Railroad Reservation Park and the new Wal-Mart on the former Eastwood Mall site. The Birmingham News reports that after more than three hours of negotiations, a proposed $143 million bond deal has been agreed upon, including $79 million in new borrowing. A report states that Fitch Ratings gives the city a AA bond rating, providing a stable outlook. The deal now gets read to the public at this morning’s weekly meeting (probably even as this is being posted). There are still concerns, most notably from Councilor Steven Hoyt, about… minority participation in the deal. Time will tell how the public reacts to the latest list, which includes several items fought for by Councilor Maxine Parker (great news for residents of District 4) that several councilors said must be included in order for the deal to move forward.

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Filed under: 35203 · Alabama · Birmingham · City Council · News