Synopsis
This Act amends the City of Harrington Charter to impose term limits on Mayor (2 terms) and Council Members (3 terms). Further, the City Charter is amended to allow without voter approval the term on debt to be up to 40 years, which is the standard term for USDA loans; and to allow refinancing of debt without voter approval if it saves the City money by reducing the term or interest rate on the debt. Finally, this amendment to the Charter allows financing without voter approval for debt that will not require the principal amount to be repaid. All 3 changes have been approved by City Council Resolutions.
Documents
Legislation
HB 62 — Session Law