Keokuk, IA – A proposal to borrow millions of dollars to repair Keokuk's streets is closer to becoming a reality. The city council used its recent workshop to review the potential cost of borrowing $3,000,000 every 3 years for the next 12 years. Mayor Dave Gudgel expects the first step in the borrowing process to take place soon. If the current council moves ahead and borrows the $3,000,000; Gudgel says future councils will have to decide if they want to continue the borrowing program. Early projections show the proposal would never increase the debt service tax rate, which is part of the total city tax rate, by more than 30 cents. Factors such as property value and interest rates would impact the cost each year. Several council members say the city should also consider borrowing for projects such as sewer repair and fire equipment.
Street Repair Program Upcoming for Keokuk
