By REVIS BLAYLOCK
NEA Town Courier
Manila City Council held a public hearing and passed ordinances during the short special called meeting that followed on Monday night. The hearing and the ordinances are in conjunction with the Manila city water well project underway.
Mayor Tracey Reinhart welcomed Ryan Bowman, attorney with Friday, Eldredge and Clark Law Firm, who has worked with the city over the last 20 years on various water and sewer projects.
“Thank you for allowing me to work with the city again on the water bond issue,” Bowman said.
He explained a public hearing is a requirement of the process.
Mayor Reinhart opened the public hearing and entertained any comments or questions on the project. There were no comments.
The first ordinance and the emergency clause approving five locations to post the ordinances passed unanimously. Locations are the post office, Farmers Market, Wagner Clinic/St. Bernards Urgent Care, city hall, and Police department.
The second ordinance and emergency clause that passed unanimously was to confirm the existing water/sewer rates. The ordinance does not increase the rate, only confirms the present rate which will be the same.
Council members present were Dale Murphy, Monte Middleton, William Barnhart, Bobby Tate and Jason Baltimore. Steven Milligan was absent.
The final ordinance passed was the agreement to finance the loan for the water well project in the amount of $958,200. Friday Firm will handle the bonds and Arkansas Natural Resource Commission will be overseeing the construction of the new water well. The interest rate is 0.75 percent with a one percent servicing fee going to Arkansas Development Finance Authority for a total of 1.75 percent.
Bowman expressed his appreciation to the council for the special called meeting which will allow them to close by the end of June.
Payments will be the interest only until October of 2026. Payments on the principal and interest will begin Nov. 1, 2026. The bond will be paid off on Oct. 1, 2046. It can be paid off earlier with no obligations.