Seneca deals with financial matters

In anticipation of delayed revenues, Seneca will take the borrowing route to recover expenses from the April tornado as well as a drop in revenue resulting from the financial impacts of COVID-19. In last night’s special meeting, the city council gave final approval to a $2.5 million dollar general obligation (taxpayer-backed) bond. City administrator Scott Moulder explained that the general obligation bond will help Seneca while the city waits for tornado expense re-imbursement from “FEMA”—the Federal Emergency Management Agency. Mayor pro tem Ronnie O’Kelley says he believes city residents understand that the city finances are a concern during the time it takes the federal government to come through with monies.