Dickson City Council Approves Plan Allowing Up To $80 Million In Borrowing For Capital Projects

Dickson, TN — The Dickson City Council unanimously approved a resolution on Monday authorizing the city to incur indebtedness of up to $80 million to fund several major capital projects, including a new city center, an aquatic and recreation center, and a new fire station and training center.

City Administrator David Travis said the anticipated cost of the projects is expected to be significantly less than the maximum amount authorized.

Travis said he anticipates the projects “will be in the $60–65 million range” and does “not anticipate requiring a property tax increase to fund the debt service.”

The resolution does not issue bonds, but establishes a legal framework that allows the city to move forward with financing as project planning continues. The borrowing authority approved by the council represents a maximum limit rather than a final cost estimate.

In a related action, the council approved a resolution declaring the city’s potential intent to reimburse itself from future bond proceeds for expenditures already incurred related to the capital projects.

The council also approved a letter of engagement with Oakdale Municipal Advisors, LLC, authorizing the firm to provide advisory services in connection with the issuance of general obligation public improvement bonds for the projects.

The borrowing authority would fund three major initiatives: a city center planned for South Main Street, a proposed aquatic and recreation center at Henslee Park, and a new fire station and training center.

All votes related to the borrowing framework were approved unanimously.

The City Council is scheduled to meet next at 7 p.m. Monday, Feb. 2. Regular council meetings are broadcast on the Community Access Channel on Comcast 19.