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HCDC sets 08-09 budget; hears report on tire issue

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 Meeting in regular session Tuesday, August 5, the board of directors of the Hawkins Community Development Corporation adopted a preliminary 08-09 budget and heard a report on the continuing problem related to the storage of tires by Foster & Sons, Inc.

The board approved a budget of $66,250 for the coming fiscal year beginning October 1, 2008. The budget includes obligations of $16,588 for the four quarterly payments, a set-aside of $12,000 toward the purchase of property for an industrial park and approximately $30,000 in continued funding of improvements at the two city parks are features of the 08-09 budget.

Mayor Sam Bradley reported the defunk Foster & Sons tire reclaimation operation must submit a statement of financial capabilities to the court on September 21. In addition the company is to report on the 10th of each month on progress of removing the collection of tires within the city and at the southside location.

Foster & Sons face a January deadline for the removal of the stored tires.
Jerry Jones, treasurer, reported a balance of $14,491 for WCIC. He said the HCDC account had a balance of $14,491.15 at July 31, 2008. He also reported approximately $38,000 remains to be paid on the note for the Pavilion at City Park. Payments are made quarterly on this debt which carries a current interest rate of 7.25%.

Gary McKinley of the Wood County Industrial Commission advised the board that Ozarka had surpassed the $500,000 mark in contributions to charitable and civic causes in Wood County since opening. He also said two new sales tax permits were issued for Hawkins and three for Holly Lake. McKinley said he is following the work-up of legislation to be propoesed in the next Texas state legislature involving funding of economic development for rural areas of the state.

The next meeting of the HCDC is scheduled for Tuesday, September 2 at 4 p.m. A special meeting of the board can be called with 72-hours public notice.

Last Updated on Thursday, 16 April 2009 15:17  

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