Meridian loan chronology
By Staff
Feb. 1, 2004
Here is a look at key dates in Meridian's efforts to borrow $6 million to repair city streets.
November 2002: Meridian Mayor John Robert Smith announces he will propose that the city borrow up to $5 million to pave and repair city streets.
January 2003: Expanding a half-mile section of North Hills Street to four lanes is among 72 projects in city officials' early draft of a $5 million street improvement plan. City officials say they plan to work on approving a final list within the next month.
February 2003: City councilmen add another million to the street improvement project, bringing the total to $6 million.
March 2003: City councilmen vote to borrow $6 million, but do not have a final list of streets that will be paved and repaired.
July 2003: City councilmen approve an agenda that includes a notice of legal advertisements to receive bids on design work for the North Hills Street project.
August 2003: City officials receive the $6 million loan; the city will pay 3.76 percent net interest on the loan. The money is placed in an interest-bearing account, where it is expected to earn about 1 percent interest.
October 2003: Meridian city councilmen continue to delay approving a list of streets to be repaired while the $6 million loan sits idle in a bank account.
December 2003: Meridian city councilmen delay the adoption of a list of streets to be repaired because they say a final dollar amount on the cost has not been calculated by the Public Works director.
Jan. 20: Councilmen say they are blindsided by a proposal to hire an engineering firm to design North Hills Street improvements. They delay a vote until they approve a list of streets to be paved with the $6 million loan.
Meanwhile, Lauderdale County supervisors vote to borrow up to $3.8 million to pave roads. They provide a comprehensive list of streets to be paved two days later.
Jan. 22: Councilmen Barbara Henson and Bobby Smith hold a news conference to explain why no streets have been paved, saying the city administration and public works department are delaying the project.
Jan. 30: Councilmen receive the latest and most-detailed list of streets to be paved, along with cost estimates, from Public Works Director Monty Jackson.
