Maggie Burger presented the yearly review of Lisbon’s outstanding debt and tax increment finance obligations.

Burger said that the town has roughly $6.5 million of debt capacity for any projects they might have coming up.

The city is carrying roughly $3.886 million in general obligation bonds in principal and interest, with the 2020 general obligation bonds becoming callable in 2028 (meaning the city can pay ahead more on that general obligation debt).

The city also has roughly $646,000 in sewer and water debt. Burger explained that the sewer and water debt are revenue debts, meaning collecting from water and sewer revenues helps pay for those debts. They do not count against the city.

The city also has Tax Increment Financing for Budget Blinds that is nearing the end of its rebate amount, and a $1.5 million TIF financing for Goose Bay Properties that distributes in 2028.

The city also has transfers for the Sportsplex that stretches now until 2035.

The city approved the reports on the TIF report for this year, and the Lisbon Urban renewal area zones.

Council approves plan to fill council seat by appointment

The Lisbon City Council also approved a plan to fill the vacancy of Mike Williams council seat via appointment. The city will need to post by Oct. 27 who they intend to appoint to the council seat.

City administrator Brandon Siggins said that by appointing, there will be no need to hold a special election, which would cost more and the seat will be filled by the write-in process during the upcoming city election.

One person has mentioned an interest in being appointed to the city council at the moment.

The council also approved closures of city streets for Halloweentown in downtown Lisbon Friday, Oct. 31.