LYNN HAVEN, Fla (WMBB)– Lynn Haven City Commissioners held their second monthly meeting Tuesday. The board discussed recovery efforts and plans for the rebuilding of Lynn Haven.
The board approved a Taxable Bond Resolution designed to aid in Hurricane Michael recovery efforts. The bond length is 15 years and it will allocate $32,000,000 to Lynn Haven.
They say the bond will help the city pay off debts collected while trying to rebuild.
“It is going to help us move forward very quickly, to pay off haulers, to rebuild the city, to make sure that the city of Lynn Haven is solvent,” said Vickie Gainer, Acting City Manager.
The city also approved a motion for the current millage rate to stay the same this fiscal year. City officials say the board considered the financial situation of residents when deciding if the current rate should be raised.
“We saw that there was such a small difference in what the city would lose and we felt like the citizens had been through a lot this time with Hurricane Michael and just didn’t see it to be right right now to increase their millage rate,” said Gainer.
Lynn Haven residents can expect a millage rate of 3.9%—the same as last year.
City officials say they are happy to secure funding to rebuild so the community can get back on its feet.