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Lake Wylie, Tega Cay and Fort Mill Area Blog

Informational News Blog by Angie Adams. I'd appreciate your Comments!

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Tega Cay wants to borrow $350,000

The Tega Cay Golf course and community center improvements, a new general obligation bond issue, and to set up a storm water utility department would bring the city to within $174,000 of its debt ceiling if it passes second reading.

The city council approved the $350,000 package on first reading 4-1 Monday night with Councilman George Sheppard opposed. The package does not require a referendum because it falls below the state-imposed debt ceiling of 8 percent of the assessed value of taxable land inside the city. It includes $131,513 to make improvements to the Cove Nine on the Tega Cay Golf Course, $144,000 to set up a storm water utility system, $50,000 to pave the parking lot at the course and Phillip T. Glennon Community Center and $25,000 to cover the cost of issuing the bonds.

Published Saturday, March 22, 2008 12:06 PM by Angie Adams NC/SC REALTOR® Broker

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