The Sunflower County Board of Supervisors is one step closer to getting some roads and bridges repaired after they voted unanimously, on Monday, to accept the lowest proposal for an average annual net interest rate on a $1.5 million general obligation bond note.
Tray Hairston of Butler Snow LLP law firm reviewed the items after the bids were opened before recommending that the county lawmakers accept Planters Bank’s low bid of 3.073 percent. Trustmark Bank of Jackson and Planters Bank were the only two financial institutions to submit offers to finance the county’s effort.
The monies derived from the loan are to be used primarily to make repairs to the county’s failing infrastructure.
Hairston said he plans to conduct the closing on the loan before September. However, he gave the county fathers the go ahead to start the process and shared with them that they could have started as early as June 4 when the decision to levy the bond was first made.
In its first meeting in June, the county officials voted 4-1 to approve the $1.5 million bond issue to address roads and bridges problems. At that meeting, District 3 Supervisor Dennis Holmes cast the lone no vote on the issue. The measure will not raise the taxes for county residents.
Trustmark proposed a 3.5 percent rate.
In other business,
The lawmakers voted to support the submission of an application through the South Delta Planning and Development District for a Mississippi Small Municipalities and Limited Population Counties Grant, contingent upon receiving a letter from Irrigation Equipment Company verifying that they will supply the $55,000 in match money needed to secure the grant.
The funds will be used to do a “cut-over” on a section of U.S. 82 in front of the irrigation equipment company located just east of Indianola.
Allyson Denson of SDPDD said the project has been approved by MDOT, however the state road department is out of funds and has no immediate plans to do the construction and the owner of the business needs the access right away.
Denson said the project qualifies for the grant because Irrigation Equipment is planning to add five new employees and the company is also willing to put up the required match money. The maximum amount that can be requested under the grant is $150,000, however the estimated cost of the project is $205,000 therefore, the company will have to remit the difference to the county, so they can pay it on their behalf.
There is no actual cost to the county, but the funds must be channeled through it and the county officials will have to submit a match resolution.
Sheriff James Haywood reported a total of $15,727.21 on his monthly settlement report for July, which includes, housing fees for prisoners and processing fees.
The supervisors also voted unanimously to purchase new body armor for the county deputies at a cost of $10,200. Chief Deputy Marvin Flowers told the county officials in his presentation that the protective gear “expires” after about five years of use. The items can be purchased under state contract.
