Voters approve bond plan

By Staff
Change allows city to finance some development projects
Leada DeVaney, Hartselle Enquirer
The lines were short and the interest little, but in the end Hartselle voters approved a plan that allows the city to issue some types of bonds. The bonds will been used to finance economic development projects. The plan calls for the tax revenue created by the bonds to be used to retire the debt they create.
The measure passed 1,764 votes to 1,669 votes
There were 1,153 votes for and 1,254 votes against the amendment countywide, and 661 for and 415 against in the city of Hartselle.
Voters in both Athens and Hartselle cast their ballots on the issue Tuesday. The matter failed in Athens.
The proposal allows the city to issue certain types of bonds. The money generated by the bonds will allow the city to purchase, develop, own or lease certain types of economic development projects.
The payment on the bonds will be paid off with the sales and use taxes generated by the development.
Any developments will also be required to pay education and property taxes.
Interest in Tuesday's referendum was low, with fewer than 5 percent of voters casting a ballot. Those numbers were consistent with statewide figures, where turnout in some cases was less than 1 percent.