VIDALIA — Vidalia aldermen passed a resolution Tuesday looking to reduce the $3.5 million line of credit approved in August by $1 million.

Vidalia Mayor Buz Craft said the town has only spent $2 million of the line of credit, with approximately $1.5 million being used to pay vendors the previous administration owed money.

Other monies were used to help fund projects and operating expenses, Craft said. The $500,000 in additional borrowing capacity will not be spent but kept available for emergency purposes, Craft said.

After discussion, the alderman also approved the mayor’s plan to pay $200,000 on the money borrowed when it becomes due in March, and if possible, pay the rest back during the next year.

Alderman Tommy Probst said, with the interest rate being so low, 1.5 percent on the original line of credit and the rate looking to upshift to 1.75 percent after the renewal in March, what was the rush to pay the money back? Probst said money spent paying back the bond could potentially be used to fund projects.

Craft said the only rush was, as mayor, he was looking to clear the town of debt. Ultimately, however, he said aldermen would make the decision.

Probst said he was on board with that decision as long as the town had money in reserve to maintain its service to the residents, and Craft said assuming no disasters, the town was in good shape.

Alderman Tron McCoy said his concern was approving paying the $200,000 back before officially approving the town’s revised operating budget for 2016-17.

Craft said if the $200,000 is paid back, the funds would still be available to the town on the line of credit, if needed. Instead of $500,000 available on the line of credit the amount available to borrow would increase to $700,000.

“I just hate to carry interest and pay when I think we can get by without it,” Craft said.

In other news, Craft said he had hoped to have the amended 2016-17 budget approved at Tuesday’s meeting, however, the aldermen had yet to have a chance to review the complete document. Craft said department heads got together Monday to make final changes before sending it to the aldermen.

Craft said he planned to call a special meeting later this month to approve the amended budget. Craft did not release any details on the budget Tuesday.

Previously announced savings including initial layoffs and cuts in the advertising department amount to more than $1 million.

“With the work that has been done, it looks really good,” Craft said. “I am encouraged by what we have done, what we have accomplished in just six months.

“Even though there is more work to do, I am excited we are moving in a positive direction.”

-Aldermen officially approved the lease with Fruit of the Loom until March 31, for a building the town owns. Martin Mills Inc. announced closure of the facility in 2016 and donated the building to the town. Later, the company decided to extend its use of the plant through March and will pay $40,000 per month and also taxes on the property for the first quarter.

-Silas Simmons’ audit of the 2015-16 fiscal year budget was submitted to the Louisiana Legislative Auditor by the deadline of Jan. 3. Craft said the board would wait to discuss the audit until after the state completed its report.

-Two lots owned by the city — one on John Dale Drive and the other Robert Gray Street — will be auctioned by the city at a date to be announced. The lowest bid that will be accepted for the Robert Gray property, which features a structure in need of repair, is $10,000. The John Dale property does not have a structure or a minimum bid, Craft said.