The Fairfield City Council met for their only December meeting last night, working through a 3 item agenda in about 30 minutes.
A Truth in Taxation Hearing was conducted prior to the meeting, with 2 local residents voicing their opposition to the tax increase.
During open session, Mayor Moore again explained that the tax increase was necessary to properly fund the Police & Fire Pension Funds, which have an almost 7 million dollar shortfall. By state statute, the pension funds must be 90 % funded by 2045. The mayor also had a spreadsheet, showing the corporate tax structure for the past 8 years. With almost no discussion from aldermen, the tax levy of 7.99% passed unanimously. The current levy is 4.99%.
In other business, aldermen unanimously approved a $15,000 revolving loan to Tim Isaacs, dba Tim’s Bargain Depot. Mr. Isaacs was in attendance and stated that the money will be used to purchase inventory. The store sells new and used furniture, toys, and household items and is located at 119 East Main Street.
The second council meeting for December was cancelled due to its proximity to the holidays.