Selma City Council discusses regaining an S&P Global Rating

Published 8:55 am Sunday, October 8, 2023

The Selma City Council discussed regaining an S & P Global rating and reducing balloon payments at the work session on Thursday night.

City Council President Billy Young said that Selma Mayor James Perkins Jr. told him that the city would get an S&P Global rating if the 2024 Fiscal budget was approved.  Young also said the balloon payments would shrink. The balloon payment is currently $11 million without interest.
“We passed a budget to move Selma forward,” Young said. “Reducing the balloon payments will help.”
City Council members present at the meeting were: President Billy Young, council members Clay Carmichael, Christie Thomas, Troy Harvill, Jannie Thomas, Lesia James, Atkin Jemison, Sam Randolph.
The Selma City Council will meet on Tuesday at 6 p.m. in the Council Chambers.

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