STAFF WRITER JARED FIELDS
MARBLE FALLS — The Marble Falls City Council tackled several budgetary-related items during its regular Sept. 18 meeting, including adopting a 2018-19 tax rate.
The council voted 7-0 to approve an ad valorem tax rate of 61.5 cents per $100 in valuation. This will raise $675,075 more revenue from property taxes than last year for the budget. The council also unanimously adopted the 2018-19 fiscal year budget, which comes in at $31.4 million.
The budget includes a proposed 2.25 percent increase to customer water rates as the council continues discussing an increase.
“The water rate was not approved individually,” said Marble Falls Director of Finance Margie Cardenas. “It will be going before council for approval on the Oct. 16 meeting.”
The council also adopted a $2,761 water impact fee and a $3,293 sewer impact fee. The previous fees were adopted in 2013. Local builders Dan Burdett and Matt Fields spoke at the meeting stating concerns for residential builders and future development. The ordinance passed 7-0, however, and takes effect Jan. 1, 2019.
Council members awarded a $6.35 million Certificates of Obligation bid to FTN Financial Capital Markets. The bond will pay for a water meter replacement program, Phase 1A parks improvements, and Tax Increment Reinvestment Zone (TIRZ) downtown projects. The bond will be repaid over a 20-year period with funds from the city, TIRZ, Marble Falls Economic Development Corp., and Hotel Occupancy Tax.
The council’s final agenda item was regarding a five-year capital improvement plan. The CIP committee previously recommended a $250,000 budget to improve Park View Park located in the Mormon Mill area of the city. However, City Council passed a version that increased the Park View Park project budget to its original level of $550,000.
The CIP — which covers more than $68 million in planned projects over the next five years — passed by a 6-1 vote. Craig Magerkurth was the dissenting vote.