murfreesboro city logo

The Murfreesboro City Council Feb. 13 approved a Detailed Bond Resolution and Loan Agreement with SunTrust Bank to fund $58 million in 2019 Capital Improvement Projects with a 2.84 percent interest rate over a 15-year term.

“We look forward to implementing the many infrastructure projects necessary for a growing city, especially in the area of schools and public safety,” said City Manager Craig Tindall. “In locking in the fixed rate with SunTrust, we also appreciate building a closer relationship with the regional bank.”

“We benefited from an aggressive bid issuing the debt through SunTrust,” said Budget Director Erin Tucker. “There was significant savings in the cost of fees incurred which was half as much as the cost in 2018.”

The City Council has an agreement with Cumberland Securities to serve as the City’s Financial Advisor for funding debt.

Significant 2019 CIP projects include:

  • $29.1 million for the new Salem Elementary School on St. Andrews Drive and Veterans Pkwy.
  • $4.299 million for the Doug Young Public Safety Training Center.
  • $1.8 million for Fire Station 11 in the Blackman area and $1.2 million for Fire Station 10.
  • $1 million for a new Airport Terminal and $2 million for the Airport South Apron Development for aircraft parking.
  • Road construction projects include $4.45 million for Rucker Lane Reconstruction; $1.6 million for Robert Rose Drive; $2 million for Brinkley Road Reconstruction; $500,000 for Rutherford Blvd. Extension; $500,000 for Caroline Farms; $200,000 for Gateway Extension to Robert Rose.
  • Historic Bottoms/Highland Avenue Redevelopment–$1 million.
  • Parks & Recreation facilities include $3 million for Greenway Phase 4; $420,000 for Cannonsburgh Village; $350,000 for Jordan Farm Soccer Complex; $300,000 for Greenway North Connector; $200,000 for McKnight Park Renovations; $100,000 for Greenway Reconstruction; $80,000 for Oaklands Park.

Improve Your Heart Health with All-Natural Soltea Daily Supplement – Click Now to Save 25% Off Your First Order
All-Natural Heart Health Supplement – Save 25% Now
Coding for kids! Introducing programming games for the next generation. Get your kids coding today.
Start with a free trial.
Grow Credit
Grow Credit is a free Mastercard you can use to pay your subscriptions while you build credit.
Start building your credit today!
Know your spending habits, anticipate overdrafts, and get up to $250. Only takes 2 minutes. No credit check.
Get your finances on track.
Acorns helps you grow your money. Take control with all-in-one investment, retirement, checking and more.
Get a $5 bonus when you sign up.
Lower your bills and stay on top of your financial life with Truebil, the app that helps you save every day.
Take control & start saving money!
Overcome your credit card debt with Tally. Consolidate and save money while you pay it down.
Get started with Tally today.
The easiest way to compare and save on home and auto insurance. Match coverage, compare rates and save.
Find hundreds in savings now!