March 9, 2021 Bayard aims to repay state in lump sum Written by Nickolas Seibel on March 9, 2021 During the virtual Bayard City Council meeting Monday afternoon, councilors discussed whether the approximately $386,000 owed to the state should be paid back in one large sum or payments of $5,000 every month for seven years. The city’s debt was created by a business’s inaccurately reported gross receipts tax payments, resulting in overpayments from the state. Bayard Clerk-Treasurer Kristina Ortiz informed the council that the state’s Small Cities Assistance Fund provided Bayard with $200,000 last Friday to assist in the payback, but totals are still being determined, and the city still falls short of paying the debt with budgeted funds.