With municipal elections scheduled for February 28, Camden Mayor Larry Dougherty says he will not seek another two year term as mayor.
“When I originally ran, I said I would run for one term, and I've done that," he said at January's town council meeting.
Daugherty will leave office having made progress on one major issue he has been tackling in recent months. On Monday, he told council members and the public the town opened a brokerage account for the sole purpose of buying back some $2.75 million in bonds the town issued to fund its municipal building.
“We have the funding available to repurchase the bonds, and we have the eligibility to do it and to retire these bonds if we desire," he said.
Because the bonds are relatively new, the town can’t recall them and pay them off, but will have to buy them back piecemeal as they come on the market. Depending on how quickly they can purchase the bonds back, the town could save thousands in interest payments.
There are also two council seats up for election next month, those held by Darlene Sturgeon and Daniel Woodall. Woodall has been the target of recent criticism about his lackluster attendance record. Woodall was not at Monday’s meeting.
Candidates for the three vacant positions can sign up to run on January 21. Election day is February 28, and the winning candidates will be sworn in at the March council meeting.
