Interest income gets boost

 

Two more townships want to participate in the county’s Neighborhood Investment Program.

Fayette Township hopes to issue bonds in the amount of $347,000 to refinance a fire truck and buy a new road grader. Terms for that issuance would be at 2 percent interest for five years.

The bonds Perry Township wants to issue would be for $175,000 for four years at 1.75 percent interest.

Both issuances require approval of bond counsel to proceed.

The investment program was begun earlier this year in an attempt by County Treasurer Stephen Burcham to bring in more interest income for the county.

At the county commissioners’ Thursday meeting Burcham reported that the total projected interest for 2013 will be $406,513 with a boost from the NIP.

“That’s $40,000 more in interest than originally projected,” he said. “That will have a ripple effect over the next years.”

Commissioner Freddie Hayes reported that the footer for the new livestock barn at the fairgrounds has been poured and metal construction should begin in approximately five days.

In other action the commissioners:

• Proclaimed Saturday as Marvin Bishop Day on the retirement of the longtime paramedic;

• Approved a marine patrol grant with the county’s match at $5,302;

• Approved a lease agreement with the Lawrence Soil and Water Conservation District for a monthly rent of $1,750;

• Reimburse Mended Reeds $761.16 for overpayment on a building permit;

• Hired a part-time paramedic for $9.50 an hour for the Lawrence County EMS.