By Chelsey Sellars | February 20, 2020 at 7:18 PM CST – Updated February 20 at 7:56 PM
JACKSON, Miss. (WLBT) – It’s a win, but the battle between the City of Jackson and Siemens corporation isn’t over.
Councilman Aaron Banks said Thursday the $89 million in settlement money isn’t going straight to the city, yet.
“…We have to pay legal fees. So once the legal fees and the agreed terms with the attorneys, we might be left with some 60 million dollars,” said Banks.
Several million will go back to the city’s enterprise fund, used to pave streets and fix sewer lines, along with other accounts and debt.
“We have to all remember that we took out a $90 million dollar bond and over years it draws interest,” said Banks.
Councilman De’Keither Stamps could not talk on camera but points out that the settlement saves the city from a water/sewer rate increase and a raise in property taxes for another 18 months.
However, Banks knows there are still other issues that need relief.
“We have people in Ward 6, that are still feeling the crunch of getting inaccurate water bills. And even though there’s been aggressive steps that have been taken to fix the issue, I’m still concerned about the everyday problems,” said Banks.
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