FORREST CITY -- A deadline is approaching for Forrest City to spend bond money on improvements that voters authorized with a tax increase nearly three years ago.
Forrest City must spend 85 percent of the bond money by February from the measure approved by voters in November 2013 or face the risk of penalties from the IRS, officials said. Voters approved a tax increase to pay for 10 improvement projects, and Forrest City leaders approved the issuance of more than $8 million in bonds to fund the projects within three years.
But little progress has been made on the projects, which include a new aquatic center and construction of a new city hall.
Mayor Larry Bryant said he's hopeful plans will be finalized soon for the projects.
State Desk on 10/11/2016