No. 10
City borrows $6M, but hasn't made street repairs

By By Terry R. Cassreino / assistant managing editor
Jan. 1, 2003
In an effort to repair deteriorating roads, Meridian Mayor John Robert Smith suggested in November 2002 that the city council borrow money to pave and repair city streets.
Today, more than a year later, the $6 million city councilmen voted to borrow last spring has been sitting idle and unused in a bank account since August waiting to fund the first street project.
City councilmen have said repeatedly that they must compile a list of streets needing repairs before any work can begin. Despite promising to approve such a list, the council has yet to act.
Meanwhile, Meridian must pay 3.76 percent interest on the $6 million loan at taxpayer expense beginning the day the city received the money and whether or not the money is being used.