Miami Lakes Giving Back To Homeowners

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MIAMI LAKES (CBS4) – Miami Lakes officials are playing Santa Claus – well, sort of.

Town officials have approved a measure to share a $600 thousand surplus with the homeowners who qualify for the state’s homestead exemption. This means about seven thousand qualified homeowners will be receiving a check for about $75.

And it seems the spending doesn’t end there.

On Tuesday, town officials approved a plan to float an $8.3 million bond to buy land for a new town hall. Officials want to use the taxable, federally subsidized Build America Bonds to fund the new building. These bonds are part of the stimulus program.

Their holiday spending spirit may be the result of last week’s Moody’s Investors Service report which gave the 10-year old town a solid credit rating. It’s the first time the town has received a credit rating.


(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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