Agenda Highlights 2/11/25

At the Fort Smith Board of Directors study session meeting to be held 2-11-25, the Board will discuss renewal of the City’s auto and property insurance policies. A representative from First Western, that is contracted with the City to consult on insurance matters, will present their findings and recommendations.

The Board will discuss ideas to expedite the repair of water leaks and staffing and equipment for the Utilities Department as it pertains to repairing water leaks.

The Board will discuss three elements of the 10 year financial plan for funding the sewer work required by the consent decree that was presented to the EPA and DOJ. The plan was discussed at the 8-27-24 meeting, 9-10-24 study session, and approved by the board to be submitted to the federal government at the 9-17-24 meeting.

The elements to be discussed are annual 3.5% increases in sewer rates beginning in June of 2025 and then every January 1st through 2030, the issuance of bonds to pay for the first $360 million in consent decree sewer work beginning in 2025, the City asking the voters for renewal of the existing 5/8 cent sales tax for consent decree sewer work but with the revenue from the tax being authorized to be used for debt service on the bonds (unlike the current version that is only authorized for spending directly on the projects) and asking the voters for renewal of the 1 cent sales tax for Streets, Bridges, and Drainage but instead of the entire percent going to Streets, Bridges, and Drainage as it currently does only 5/8 would go to streets and 3/8 would go to debt service on the consent decree sewer work. If approved, those tax renewals would result in a full 1% of sales taxes going towards the consent decree work without requiring any tax increase.