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Town Council votes 5-2 to forgive SRA debt, this time without Luter interest

Summary by Smithfield Times
A month after narrowly rejecting a similar proposal, Smithfield’s Town Council voted 5-2 on March 4 to approve a revised plan to partially forgive the debt the Smithfield Recreation Association owes the town. Councilman Steve Bowman proposed in February to take $60,000 from the interest former Smithfield Foods Chairman Joseph Luter III’s conditional $6 million donation had earned last year during the six months it sat in the town’s bank account …
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Smithfield TimesSmithfield Times

Town Council votes 5-2 to forgive SRA debt, this time without Luter interest

A month after narrowly rejecting a similar proposal, Smithfield’s Town Council voted 5-2 on March 4 to approve a revised plan to partially forgive the debt the Smithfield Recreation Association owes the town. Councilman Steve Bowman proposed in February to take $60,000 from the interest former Smithfield Foods Chairman Joseph Luter III’s conditional $6 million donation had earned last year during the six months it sat in the town’s bank account …

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Smithfield Times broke the news in on Thursday, March 6, 2025.
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