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County planners discuss future bond conditions

Published: 9:21 AM, 03/28/2013
 

Author: Nelson Morais
Source: The Newport Plain Talk

NEWPORT-The Cocke County Regional Planning Commission discussed wording to place in the county's subdivision regulations that concerns bonds developers may take out for such projects as the installation of roads, culverts, grading, and ditching of road right of ways, when they met Tuesday, March 26.

Once the new regulations are approved, the commissioners plan to only accept bonds for improvements that cover the estimated cost of installation plus 20 percent, to cover future unforeseen expenses, such as a rise in the price of asphalt for roads.

Some of the discussion centered around the one-year bonds having an extension of another full year if improvements have not been completed in the first 12 months.

For more details, please see the Thursday edition of the Newport Plain Talk.

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