City to drop four-tenths sales tax • Daily Leader staff report
The Liberal City Commission will be meeting at 5:30 p.m. today for a special session, but the purpose of the meeting should be good news for the citizens of Liberal.
Due to a state requirement to give 90 days’ notice of a tax rate change, the Liberal City Commission will meet to discuss the retirement of the four-tenths sales tax on July 1.
The special tax was passed four years ago to pay off the remaining Trailmobile bonds, and the projections at the time expected a five- to six-year pay-out.
The city has been able to finish in four years.
The commission will discuss how to finalize the pay-out tonight, By paying the bonds prior to July 1, the City is expected to save $250,000 in interest payments in 2009.
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