03/08/05 — City to refinance utility, road bonds

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City to refinance utility, road bonds

By Matt Shaw
Published in News on March 8, 2005 1:55 PM

The city of Goldsboro should save more than $200,000 through a bond-refinancing plan approved Monday night by the City Council.

The council agreed to refinance up to $6.3 million in debt remaining from water, sewer and street-improvement bonds that were issued in 1997. Because interest rates are lower now, the city would save money, around $216,000 at current rates.

Nobody spoke at the hearing Monday night.

Also Monday, the council voted to close sections of East Mulberry Street, North Durant Street and Stoney Creek Lane, which run through city-owned property off Ash Street, near Stoney Creek.

The road sections will remain open for now, but the city will be considering options for all of its property in that area, including new park land or natural trails.

The council completed several zoning and land-use requests.

It rezoned five acres on the south side of New Hope Road, between Patetown Road and Catherine Street, as R-12 residential. Oak Forest Development is expected to submit a subdivision plan with up to 36 units.

It also changed 3.5 acres, including a house, on the south side of Tommys Road, between Hare Road and Green Circle, to office and institutional. Pediatric Play Therapy will now seek a special-use permit so that the house can be used as an office for a child-therapy business.

A portion of the Wayne Community College campus was rezoned to allow U.S. Cellular to build an 180-foot tower. The council also approved plans for the tower.

The council approved Wheels of Goldsboro's plans to relocate to the east side of U.S. 117, between Arrington Bridge Road and Old Mount Olive Highway.

The board also gave a special-use request to Gary Gregory, which will allow a new Auto Zone to be built on the east side of N.C. 111, just south of the U.S. 70 interchange.

The city released the right-of-way for Miller Place and Thomas Place, two unopened streets off Randall Lane in the Ravenwood subdivision.

The council accepted around $16,500 in state and federal funds related to drug seizures and gave the money to the police department.

The city will also receive a $8,100 Homeland Security grant that the fire department will use to buy equipment to teach children about fire safety.

The City Council also condemned four dwellings: 706 W. Walnut St., 519 S. Leslie St., 1312 N. Carolina St. and 602 E. Spruce St.

Monday's meeting lasted about 45 minutes.

The City Council will hold its annual retreat this Wednesday through Friday at Atlantic Beach.