Century rejects CTA offer on rate return

Town seeking higher percentage of funds

At a meeting last Thursday, the Century Town Council voted unanimously against a proposal to change the interlocal agreement with Capital Trust Agency (CTA) after a recommendation from Town Attorney Matt Dannheisser to reject it.

CTA was created in 1999 between the Town of Century and the city of Gulf Breeze as an agency to secure bonds to build, purchase, renovate facilities like schools, apartments, and other facilities that serve a public purpose to revitalize disadvantaged communities.

The latest proposal offered a locked-in rate of $525 per million borrowed and other provisions Dannheisse...