STREETS & STORMWATER
The City of Murray is excited to announce that our maintenance machine for the chip seal roads has arrived. We were able to purchase this equipment with a grant from the USDA which paid for $43,700 of the $75,830 total cost.
We are currently working on a plan to finish reclaiming the remaining roads in FY24 (shown in orange).
We will then begin the chip sealing of the roads that were reclaimed this year in FY25 (shown in yellow).
The plan would be to spend $54,000 annually until all roads are chip sealed. If everything goes to plan all chip sealing will be complete in 4 to 5 years.
In 2016 the City of Murray completed a PER that included analysis of the Storm Water Drainage System. It was identified that we had inadequate storm drainage infrastructure which leads to frequent flash flooding, ponding of surface water and deterioration of our streets. The PER identified 5 areas that needed to be addressed at a total cost of $1,848,500 therefore the council chose not to complete all of the projects at once. The council chose to complete area 3 and 5 which came in at a total of $880,000. We received a $310,000 USDA/CDBG grant which was the max allowed for this project and a $610,000 USDA revenue bond. This project was started in June 2018 and was completed in December 2019. As of 6/30/22 we owed $434,394.38 towards the revenue bond, which is paid from the Storm Water Fund.
The City of Murray General Obligation Debt Limit is $1,091,124 per the FY22 annual financial report. We currently have a bond in the amount of $832,000 which was used for the street improvements to Maple, Troy, First, Second, Third, Fourth, Fifth, Seventh, Eighth, Ninth and part of Sherman. This leaves us with $259,124 that we are still eligible to borrow if we feel that it is necessary to complete the street reconstruction that needs done on the north side of town. The loan is paid by the Debt Service Fund which is a property tax supported fund.