Eagle voters could decide to buy City Hall

Eagle voters could decide to buy City Hall

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by Karen Zatkulak

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KTVB.COM

Posted on November 1, 2012 at 10:12 PM

EAGLE -- One issue that Eagle voters will decide next Tuesday involves City Hall.

Mayor Jim Reynolds tells us Eagle is currently paying $140,000 a year to lease the space in the building, but that figure is expected to nearly double in 2013.

In order to avoid the higher rate, Reynolds says the city did some research and found out they could sell bonds in order to buy the building.

Reynolds say that buying would be drastically less than the lease rate, and still allow them to pay off the debt within 15 years.

"The bottom line is - the folks approve the bond - it will drop our payment down to $116,000 instead of $240,000," said Reynolds.

The mayor says if the measure passes, the extra money saved will go toward the city's general fund.

Reynolds says so far, he's heard no one speaking out against the measure. And he says this would not raise taxes for residents, and possibly lower them.

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