The Manassas Park City Council promoted two police officers Tuesday night and considered the possibility of selling bonds to ease cash flow problems.
Selling $15 million in bonds would allow the city to repay the $7.5 million Literary Fund Bond anticipation note taken out by Manassas Park City Schools in 2006. The total amount of that note is due March 2011.
The remaining $7.5 million in bond sales would allow the city to refinance other city debt and take advantage of lower interest rates for an additional $2.8 million between fiscal 2010 and 2015, said Gary Fields, Manassas Park finance director.
Fields said the city was not taking on additional debt.
"We're not looking at extending maturity dates, but taking advantage of some restructuring for cash flow purposes," Fields told the council.
Fields said the council doesn't have long to decide if it wants to benefit this year.
"In order to take full advantage of any cash flow savings that we can in this fiscal year, we need to close on the final restructuring by April 1," Fields said.
The council could vote on the issue as early as Feb. 16.
Police promotions
Sgt. William Quesenberry was promoted to lieutenant. He has been in law enforcement since 1988. He came to the Manassas Park Police Department in 2004 and started the city's K-9 program. He has also been a training instructor and is active in the department's community services programs, said Manassas Police Chief John Evans.
Detective Howard Perry was promoted to sergeant. Perry began his career with the Manassas Park Police Department in 1989. He served on the bicycle team and has been a traffic enforcement officer as well as a crime scene investigator.
Perry has also been active with state agencies that investigate Internet crimes against children, Evans said.
The council also allocated $27,000 to buy 300 tons of street salt because recent snow storms have depleted the city's supplies.
Manassas Bureau Chief Keith Walker can be reached at 703-369-6751.
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