Residents of the city of Bridgeport will be taxed in 2013-14 at the same rate as the last seven years.
At its regular meeting Tuesday, the city council levied a tax rate of 58.75 cents per $100 valuation for the upcoming fiscal year. The rate has remained the same since 2006.
Although it did not increase, more revenue will be generated due to property valuation increases and new construction.
The proposed tax rate is expected to provide approximately $1,442,336 for the general fund and $776,497 for debt service.
Council members also accepted the resignation of longtime councilman Scott Cheves.
He and his family have built a home outside of the city limits.
In a letter to the council, Cheves wrote, “I have enjoyed my years on the council and hope that I have contributed to the betterment of the city. The city has a great staff that I have enjoyed working with.
“Please continue to support the projects that will only make Bridgeport better.”
In its next agenda item, the council moved to appoint A.Z. Smith to fill the vacancy until the May 2014 election, when the term expires.
Smith will be sworn in at the council’s next regular meeting, 7 p.m Tuesday, Sept. 17, at City Hall.
IN OTHER NEWS
The council also:
- heard during a quarterly report that the city’s investments increased $255,178, with $3,589.75 earned in interest. The city’s investments total $8,082,936 – $4,241,578 was liquid cash for payroll, supplies, contractual services and equipment/machinery maintenance. The remaining $3,841,358 was restricted cash for ongoing projects including debt service payments, EDC projects and water, airport and electric improvements.
- extended through Aug. 31, 2015, a vendor agreement with Wise Area Relief Mission (WARM) for their utility assistance program. The city is responsible for providing WARM with a customer’s billing and usage history for the past 12 months and agrees to extend electric service for up to five business days while WARM determines if the customer is eligible for assistance. In exchange, WARM agrees to pay the city within 45 days of making the pledge for payment, agrees to determine if the customer is a certified customer within 10 days of contacting the city and agrees to provide the city with a list of WARM staff designated to make pledges.
- renewed a $1,210 fiscal fiduciary agreement with the North Texas Library Consortium for a shared library system. As a member of the consoritum, Bridgeport Public Library patrons may borrow any of the 400,000 items from any of the 13 libraries in the consoritum. Materials may be transferred from one library to another without cost to the cardholder.
- reviewed the Aug. 22-Sept. 4 payment report in the amount of $209,462.32.
- heard a budget variance report on the city’s July financials.
- approved the minutes from the Aug. 20 regular and Aug. 29 special meeting.