Tuesday, September 20, 2011
Friday, September 16, 2011
Thursday, September 15, 2011
Wednesday, September 14, 2011
Polk City Citizen's Alert from Polk County Sheriff's Office
On September 13, 2011, the Polk County Sheriff's Office posted a citizen's alert for Polk City regarding recent vehicle burglaries.
For more information, please click on the link here: PolkSheriff.Org 9-13-2011 Polk City Citizen's Alert
With limited police protection provided by the city it is very important that we all keep our eyes and ears open and look out for one another. God bless.
For more information, please click on the link here: PolkSheriff.Org 9-13-2011 Polk City Citizen's Alert
With limited police protection provided by the city it is very important that we all keep our eyes and ears open and look out for one another. God bless.
Tuesday, September 13, 2011
Friday, September 9, 2011
Agenda for Sept 12 City Council Meeting
September 12, 2011, City Council Meeting Agenda
This meeting is scheduled for 7:00 PM, Monday, the 12th.
Ordinance 2011-1275 Lakeland Electric System Franchise
Ordinance 2011-1285 Dunn FLU
Ordinance 2011-1286 Dunn RZ
Resolution 2011-08
This meeting is scheduled for 7:00 PM, Monday, the 12th.
Ordinance 2011-1275 Lakeland Electric System Franchise
Ordinance 2011-1285 Dunn FLU
Ordinance 2011-1286 Dunn RZ
Resolution 2011-08
Thursday, September 8, 2011
Wednesday, September 7, 2011
Thursday, September 1, 2011
City Council Special Meeting Sept 6, 2011
City Council Special Meeting Agenda - Sept 6, 2011
This meeting will be held at 7:00 PM OR IMMEDIATELY FOLLOWING THE BUDGET HEARING
This meeting will be held at 7:00 PM OR IMMEDIATELY FOLLOWING THE BUDGET HEARING
Friday, August 26, 2011
City Applying for Permits Before Bond $ Comes Through
 | Florida Department of Environmental Protection Bob Martinez Center 2600 Blair Stone Road Tallahassee, Florida 32399-2400 |
Rick Scott, Governor Jennifer Carroll, Lt. Governor Herschel T. Vinyard Jr., Secretary
Permit: Water - Domestic Wastewater Collection/Transmission System
Project name: MOUNT OLIVE TO POLK CITY...
Location id: 266369
Location name: CITY OF POLK CITY INTERIM WWTF FLA489093
Address: Not available
County: Polk
Application number: 266369-007
For further information, please contact the Southwest District permitting office in Temple Terrace at (813)632-7600
Permit: Water - Domestic Wastewater Type II Wastewater Treatment Plant Permit
Project name: POLK CITY INTERIM
Location id: FLA489093
Location name: Polk City, City of Interim
Address: Not available
County: Polk
Application number: FLA489093-002
For further information, please contact the Southwest District permitting office in Temple Terrace at (813)632-7600
Thursday, August 18, 2011
Wednesday, August 17, 2011
Tuesday, August 16, 2011
Sunday, August 14, 2011
Kevin Bouffard, from the Ledger, Check Your Math!
Kevin Bouffard, you state in your article Economic Turmoil Has Upside for Polk City that,"The financial turmoil in Washington, D.C. and the world stock markets saved Polk City $7 million over the next 30 years."
When calculating the savings you need to figure the principle amount of the bond, approximately $10.3 Million, using a standard amortization calculator, at the new 4.97%, compared to the previous 5.25%, over the 30 year period. Per my calculations, the actual savings due to the interest rate change is only $645,126.76 in interest over the entire life of the loan. Comparing the principle loan amount plus interest on the $10.3 M bond over the life of the loan went from $20,677,332.46 down to 20,032,205.70. This new interest rate also reduces the annual payment by $21,500.23, making the new portion of the annual payment for this bond to $667,744.19.
The additional 3 existing loans that are not being refinanced are obviously not being impacted by the new rate on the new bond, so no savings can be applied to that debt. Lumping all three of these loans together for simplicity, the principle amount is roughly $4,446,925.17, after the interest this amount increases to $6,456,549.60. The annual payment for these 3 combined loans is roughly $218,528.00.
When you add the new bond total debt at the new interest rate, $20,032,205.70, to the debt not being refinanced, $6,456,549.60, you still get a total debt of $26,488,755.30, with a total debt annual payment of $886,272.19. The city's annual payment will increase from the current $821,000, by $65,272.19 annually. Remind me again, how we are cutting expenses and lowering our annual payment!
Kevin, your article states, "That pushed down total principal and interest over the 30-year bond term to $19.4 million from $26.3 million estimated previously." For the life of me, I cannot figure out how you could possibly have your calculations come up with this much difference unless somehow you are adding in debt that is not being refinanced when calculating your savings. That is obviously not correct. Can you please print a correction to your article with more accurate savings numbers reflected? Your article over-estimates the savings by roughly $6.4 Million. This mis-information to the public needs to be corrected.
When calculating the savings you need to figure the principle amount of the bond, approximately $10.3 Million, using a standard amortization calculator, at the new 4.97%, compared to the previous 5.25%, over the 30 year period. Per my calculations, the actual savings due to the interest rate change is only $645,126.76 in interest over the entire life of the loan. Comparing the principle loan amount plus interest on the $10.3 M bond over the life of the loan went from $20,677,332.46 down to 20,032,205.70. This new interest rate also reduces the annual payment by $21,500.23, making the new portion of the annual payment for this bond to $667,744.19.
The additional 3 existing loans that are not being refinanced are obviously not being impacted by the new rate on the new bond, so no savings can be applied to that debt. Lumping all three of these loans together for simplicity, the principle amount is roughly $4,446,925.17, after the interest this amount increases to $6,456,549.60. The annual payment for these 3 combined loans is roughly $218,528.00.
When you add the new bond total debt at the new interest rate, $20,032,205.70, to the debt not being refinanced, $6,456,549.60, you still get a total debt of $26,488,755.30, with a total debt annual payment of $886,272.19. The city's annual payment will increase from the current $821,000, by $65,272.19 annually. Remind me again, how we are cutting expenses and lowering our annual payment!
Kevin, your article states, "That pushed down total principal and interest over the 30-year bond term to $19.4 million from $26.3 million estimated previously." For the life of me, I cannot figure out how you could possibly have your calculations come up with this much difference unless somehow you are adding in debt that is not being refinanced when calculating your savings. That is obviously not correct. Can you please print a correction to your article with more accurate savings numbers reflected? Your article over-estimates the savings by roughly $6.4 Million. This mis-information to the public needs to be corrected.
Thursday, August 11, 2011
Planning Commission Agenda August 16, 2011
Planning Commission Agenda August 16 2011
This meeting is scheduled for next Tuesday at 6:00 PM. They will be considering changing zoning from commercial to industrial on a 3.86 acre parcel located on Commonwealth Ave and Palmetto Lane E.
This meeting is scheduled for next Tuesday at 6:00 PM. They will be considering changing zoning from commercial to industrial on a 3.86 acre parcel located on Commonwealth Ave and Palmetto Lane E.
Wednesday, August 10, 2011
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