PRATTVILLE, AL (WSFA) - The Prattville City Council voted Tuesday to take out another loan to help make a bond payment. The $1 million loan will help the city pay its obligations, Mayor Bill Gillespie said.
The city is on the hook for millions in loan re-payments for incentives and infrastructure improvements. Some of those incentives helped attract new stores and businesses - like the Bass Pro Shops and the new Kohl's. The loans stirred up a controversy in Prattville when city leaders had to take out a $3 million loan to satisfy a payment back in October.
That loan forced the city to make huge budget cuts and add an one-cent sales tax. The mayor says that $3 million loan was paid back on Monday, but the city still needs to borrow a million dollars to make this latest payment.
The council unanimously approved that request. The city will have to make another larger loan payment in November. The council also discussed a plan to raise municipal court costs. They put off a vote on the plan for a couple of weeks.