LAUREL HILL — Florida officials no longer consider the city in "state of financial emergency," Councilman Larry Hendren said.
City leaders have received a letter from Gov. Rick Scott's office stating that the city is financially operating effectively in accordance with Florida Statute.
Since 2004, the governor's office had considered the city under financial duress, based on results from previous annual audits, Mayor Robby Adams said.
The city is making monthly $700 principal and $2,200.50 interest payments to the First National Bank of Crestview.
It's encouraging that the city's efforts have been noticed, city leaders said.
"Anytime you can get a negative mark removed from your city that is good thing," Hendren said Thursday.
In other business, city leaders have unanimously approved an ordinance to allow the Gulf Power Company franchise rights to operate within city limits. The ordinance would allow Gulf Power to operate in the city for the next 30 years.
The city will earn between $1,200 and $1,500 from the franchise fees' monthly revenue, City Clerk Nita Miller said.
Email News Bulletin Staff Writer Matthew Brown, follow him on Twitter or call 850-682-6524.
This article originally appeared on Crestview News Bulletin: State's passing mark 'a good thing'