Commissioners Court awards bank bid

In the weekly meeting of the Camp County Commissioners Court, the court considered approval of the tax-exempt financing proposals for the upgrade to the county buildings HVAC and electrical systems. There were two bids on the table, one from Guaranty Bank and the other from Pilgrim Bank, both of Pittsburg. In other business, the court

• approved the purchase of Caterpillar Motor Grader

• using Precinct 1 capital reserves.

• approved the annual resolution of the Camp County investment policy.

• approved the renewal of the lease agreement with Health and Human Services Commission at 211 Mill Street.

• denied a request by a county resident for the refund of late penalties. Both proposals had been looked at by all the members of the court in a previous meeting. The Guaranty Bank proposal was discussed at length but rejected due to the interest rate having a sliding rate that would kick in after seven years. Jacob Butler of Pilgrim Bank made the formal presentation to the Court. The total for the County’s buildings upgrade would be $502,488. The Court plans to put $100,000 down and the loan from Pilgrim Bank would total $402,088 at 4.15 percent interest for 15 years, with no penalty for early pay-off. The Court approved the Pilgrim Bank proposal.