SAMSON, Ala. (WDHN) — Late in 2021, the small town of Samson achieved what few cities and towns have done statewide: the municipality does not owe any government agency or business money.
The Samson City Council made their final payment on the note for the city hall. The final payment was just under $30,000.
Several years ago, the city purchased an old downtown bank and spent more than $260,000 renovating it to become the new city hall.
Having no debt will allow the city to easily fund local matches for state and federal grants.
“If you’re not in debt and your finances are in good shape, it allows you to capitalize on CDBG grants and any other grant that requires a match, and that allows us to put in 15% of the grant amount and that puts us in another good position,” Samson Mayor Clay King said.
Mayor King says it’s very important in keeping Samson in strong financial standing and maintaining a
“rainy day” fund in the event of an unexpected emergency.