In a previous blog post it was stated that ESD#8 was responsible for the cost of the land and the construction of the fire station under the original agreement between Georgetown and ESD#8.
As part of the negotiation of an extended service agreement between Georgetown and ESD#8 last fall, the City was deeded the land and took responsibility for funding and constructing the fire house as well as the annual operating costs. In return, ESD#8 agreed to increased annual payments to Georgetown for fire services in ESD#8.
As a result, Georgetown will issue approximately $5.2M in Certificates of Obligation in FY19 to pay for the construction of this fire station and assume the payments on the debt.
The growth of the fire department budget and staff will be the focus of a future post.
No comments:
Post a Comment