MONTGOMERY, AL (WSFA) - Tuesday evening the Prattville City Council overrode Mayor Bill Gillespie's veto and approved extending the 1-cent sale-tax through September of 2031 – another 19 years. The majority of the city's debt is a result of the incentives used to entice retail business to Prattville.
The development incentives were financed with three bonds. These bonds provided the money needed to lure retail establishments such as the Bass Pro Shops, the Prattville Town Center and High Point to Prattville's east side. Total bond debt obligations for all projects, including infrastructure, currently totals a little over $41,000,000 as stated in the July 30 report issued by the city.
While no one wants to pay more taxes we applaud this council for having the courage to do what it had to do in order to move their city forward, stay on track with debt payment obligations and react to our current recessive economy. All that development came with a high price tag and doing what is necessary to pay the bills is what needed to be done – whether you are a city, a business or handling your personal finances at home.
Tough economic times demand tough economic decisions, not always popular, but necessary. Prattville's City Council approval of a tax extension was needed to ensure that they are not a blind causality of inaction but an example of fiscal prudence for many years to come.