High Springs voters OK cap on borrowing
Published: Tuesday, November 6, 2012 at 8:38 p.m.
Last Modified: Tuesday, November 6, 2012 at 8:38 p.m.
High Springs voters overwhelmingly approved a charter amendment to limit city borrowing that may be declared null and void by a judge.
The measure, which was approved by approximately 67 percent of the voters, caps the amount the city could borrow in a single bond issue or loan at $1 million — unless there is supermajority approval of the City Commission and then approval of the voters in a referendum.
The cap on borrowing comes with the city now some $8.5 million in debt on the construction of its sewer system.
An active lawsuit argues the majority of the City Commission did not follow proper procedures when approving the ordinance that put the measure on the ballot. In a preliminary decision, a circuit court judge ruled that the lawsuit against the city is “likely” to succeed and granted a temporary injunction that prevents the amendment from taking effect until the case is resolved.
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