Page 4 December 29, 2010
The Newscaster/Nature Coast News
To Lease or Not to Lease
Remembering the past
From the Inglis Town Commission
the cars with interest and paying the town
By Correspondent Sally Price
Attorney to review the leases.
At the December 14 Inglis Com-
A couple years ago, the Town Com-
mission meeting, Inglis Police Chief Steve
mission agreed to set aside $15,000 per year
Dixon asked for approval to lease three ve-
for replacement of police cars, with $30,000
hicles for the police deportment for $76,000,
that should already be available in the Gen-
which would include exchanging-out all the
eral fund, along with $70,000 that was re-
equipment, and at the end of the 3 years of
turned to Inglis for it’s share of Fines and
monthly payments, the cars could be bought
Forfeitures, due to tickets written by the po-
for $1 each.
lice department. Mayor Lake explained that
In the discussion that followed, it
Inglis has $900,000 in reserves, but the town
was agreed that the Town AttorneyNorm
is not using it, and there are other needs.
Fugate should review the agreement, but
Commissioner Richard Kellman
other alternatives should be checked out,
explained that the town auditor had recom-
and Chief Dixon should gather additional
mended that the town keep 6 to 9 months of
information.
reserve money in the bank for emergencies,
Mayor Lake asked for a special
and Inglis has always tried to maintain that.
meeting to be held on Dec 21, regarding the
Lake retorted that the money collects 0.5%
three new police cars to be leased. The com-
interest on the reserves, and where do the re-
In 1904 Camp Phosphate Company received a permit from the Secretary of War to con-
mission approved to move ahead, but the
serves come from? In his opinion, the mon-
struct a dam, hydroelectric plant and lock on the Withlacoochee River at Inglis. Seeking a
discussion leaned toward buying outright
ey came off the backs of the people in Inglis.
cheaper form of electricity the dam construction began and the 3400 acre Lake Rousseau
instead of leasing.
“It’s not your reserves, it’s the people’s,”
was formed. In 1909 Camp Phosphate sold the project and property to Florida Power Cor-
Chief Dixon stated that he’d
said Lake. Commissioner Mosher agreed
poration (now Progress Energy). FPC completed the hydroelectric plant in 1911. The permit
checked with other leasing companies, and
with Kellman about keeping 6 to 9 months
required a lock to be built which FPC did in the mid 20’s. Fear of the dam with storms and
the interest on the three-year payments were
of operating expenses capital in the reserves
high water caused FPC to take the lock out of commission in 1926. In the late 1930’s it was
5.65% and 5.5%, as opposed to the 4.5% he
as they had always done. “I feel this com-
repaired but never operated functionally. In 1965 the hydroelectric plant ceased to operate
had chosen in the beginning.
mission is an ‘I don’t know,’” said Mosher.
and was taken over by the US Army Corp of Engineers. A new structure and main spillway
Mayor Lake stressed that the lease
Commissioner Bob Webb responded, “I
of today was built and is used for flood control. From the Sally Price Archives
interest would be over $5000, and the cost
don’t understand.” Mosher replied, “You
estimate for Inglis Town Attorney Norm Fu-
guys haven’t had experience. I don’t know
Police Cars - Continued from left column
gate to review the lease would be approxi-
how you take people (town commissioners)
mately $350. He said that the town has no
and change them every two years and expect
9%. Lake stated, some of the town monies draw 0% interest, CD’s make 0.5% to 0.75%, “So
idea of how much money will be collected
them to stay on the road.”
why in God’s name would you spend 9% for three years and get in a long term obligation.
in the next few years, and the car payments
Lake asked the commission to get
You have the dollars today; maybe not tomorrow. The police department needs the vehicles
would be a legal obligation. He felt that the
back to the issue at hand of purchasing three
today - buy the vehicles outright.” Mosher commented, “The process we go to purchase in
town should go ahead and pay for the cars,
police vehicles without going through this
this town sucks.” Lake said, “If you take money from the reserves, you have a penalty to the
up front, with money from the $900,000
purchase procedure, and saving the town
bank and you have to re-advertise the entire budget. The money should have been set aside
Continued in next column - Police Cars
Inglis has in reserves, as opposed to leasing
Coastal
in contingencies.” Commissioner Kellman asked, “Does anyone knew what the contingency
Hair Port
is?” Lake replied, “You voted it. Contingency is $100,000 a year.” The discussion became
heated and multiple people were talking at the same time, making it difficult to determine
at Plaza 40
what was being said. Commissioner Webb called for a vote to purchase the cars, which
Carting
Shopping Center
passed, and the meeting adjourned. Listen to Inglis meetings on: www.thenewscaster.com.
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