Muhl courthouse domeGREENVILLE, Ky. (7/14/17) — One local business left with a “yes” and another left with a “no” from the Muhlenberg Fiscal Court yesterday.

Citing the “shop at home” mantra, Magistrate Tommy Watkins made a motion to accept the second lowest bid for a line of banking credit from First State Bank in Greenville during yesterday’s meeting. And, the court voted 4-1 to decline a proposal from T.J. Teague and Jeff Travis to privatize the county convenience center sites.

US Bank had proposed a rate of 2.65 percent on a $1 million line of credit. US Bank has branches in nearby areas including McLean and Hopkins counties but not Muhlenberg. The banking bids were opened at the June 29 meeting but language in the US Bank proposal was unclear regarding variable rates on potential draws during the one-year term of the loan and awarding a bid was tabled to July 13.

First State proposed 3.15 percent with a fixed rate and a $1,500 origination fee. First Southern offered one year at 3.65 percent fixed with a $1,500 fee and First Kentucky offered one year at 3.99 percent with no fee. First State’s bid was unanimously approved.

The county has used a line of credit many times in the past, which was paid off with its share of in-lieu-of-tax revenue from TVA that comes in February.

Teague’s proposal for taking over the convenience sites has been tossed back and forth for several weeks. After his initial proposal, Teague came before the court to clarify and address questions and concerns while the court considered it.

In the June 29 meeting, Watkins said he favored the proposal due to the county losing approximately $300,000 a year running the sites.

In yesterday’s meeting, Magistrate Brent Sherrod moved to decline the proposal saying he wanted to examine other opportunities. Judge-Executive Rick Newman said he has been in talks with another municipality in the county, which might enable them to strike a deal saving money for both entities and keep the convenience centers within county control.

Watkins was the only “nay” vote on declining the waste management proposal.

Rita Dukes Smith
SurfKY News Director

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