City approves vehicle ban, bond refinance and second hand store regulations -, South Georgia News, Weather, Sports

City approves vehicle ban, bond refinance and second hand store regulations

By Len Kiese - bio | email

ALBANY, GA (WALB) –  The city of Albany hopes to save hundreds of thousands of dollars by refinancing a bond.

Through the city, Water, Gas and Light borrowed close to $14-million in 1998 to build a water treatment facility. The interest rate on the bond is about 4.7 percent. Now interest rates have dropped.

Tuesday night, city commissioners approved an ordinance that would allow them to refinance the remaining $8-million left on the principal. The new interest rate is just more than 3.5 percent. The city could save between $250,000 and $400,000 dollars.

Second hand stores in Albany now have new regulations when it comes to selling goods. Consignment shops and thrift stores that buy items will now have to wait 15-days before they sell them.

The stores will also have to file daily written reports with the Albany Police Department that includes the name of the person who sold items to the store along with their date of birth and social security number.

It's similar to rules pawn shops already have to follow. The ordinance passed by Albany city commissioners is aimed at reducing thefts.

It will also now be illegal to park an oversized vehicle on residential streets in Albany. The city doesn't want heavy equipment, limos or tractor-trailers parking in residential areas because of clutter, traffic dangers and complaints from residents.

Commissioners approved a zoning amendment that bans those vehicles. There is an exception for school buses but they must be parked in a side or backyard.

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