KETR Local
7:05 am
Mon January 26, 2009

Council to consider creation of MUD

Greenville – The Greenville City Council could take the first step toward the creation of a Municipal Utility District Tuesday. The Municipal Utility District (MUD) is being described as a tool used to sell bonds to raise the revenue necessary to install needed infrastructure. The bonds would be used, in essence, to reimburse the developer for the money paid up front to establish the infrastructure. The district as proposed would include slightly more than 6,600 acres north and south of U.S. Highway 380. A strategic partnership agreement would allow the city to collect sales taxes from within the MUD and earn additional revenue from the sale of water and sewer services as the area develops.

Click the MP3 icon to listen as KETR's Greenville Correspondent Brad Kellar reports.