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8-24-05 - City leaders in Bonham have decided to layoff 7 employees, including police officers. A $700,000 deficit triggered the decision. It could also impact property taxes with a proposed hike.
Here's how the layoffs break down: 2 police officers, 1 firefighter, 2 employees in the street department, 1 librarian and 1 employee in the Parks and Recreation Department.
City officials blame the cuts on a $700,000 shortfall, which was caused by $300,000 in lost property tax revenue from the closing of the General Cable plant and rising insurance costs.
As for property taxes, they'll be raised from a 55-cent tax rate per $100 valuation to a 57.3-cent rate.
The city commission will not make this increase or the layoffs final until they hold two public hearings on September 6th and 12th.
The various departments will not make a decision on whom to layoff until those meetings take place.