Haleyville Council to Borrow $3 million
After a one week delay because of the ice storm, he Haleyville City Council met Monday night and approved a resolution for a loan negotiated with BankFirst for $3,ooo,ooo.oo for the purchase of the Professional Building adjacent to Lakeland Community Hospital. The resolution states:
WHEREAS, the City of Haleyville has negotiated a loan with BankFirst for a one year commercial draw/ non-revolving line of credit, with interest being paid monthly. At maturity, the bank will extend a 10-year fixed rate loan to include principal and interest payments at a rate of 2.20%. As well as closing cost fees of $15,000.00.
In other business, the Council approved the operation bills and purchase orders for January in the amount of $360,116.50. Also approved was a resolution calling for the city’s participation in the NW Alabama Multi-Jurisdictional Hazard Mitigation Action Plan. The purpose of the plan is to develop and implement a hazard mitigation action plan which can result in actions that reduce the long-term risk to life and property from natural hazards. This plan has been approved by State and Federal Emergency agencies.
A work order change to an project the City of Haleyville is currently working on 2020 Fall Street Paving 12th Avenue between 29th Place and 11th Avenue, Briarwood Drive, and Hill Top Subdivision, requiring an additional 23.60 tons of asphalt at the unit price bid of $98.00/ton was used to complete the paving at the intersection of 11Th Avenue and 28th Street, resulting in an increased project cost of $2,312.80.
Mayor Ken Sunseri praised the city workers, especially the street and sanitation workers for their work during and after the ice storm last week. With all the downed trees and limbs, Sunseri pointed out Haleyville was fortunate to have Alabama Power restoring power as quickly as it did.
The next scheduled Haleyville City Council meeting will be Monday, March 1, 5:30 p.m. at the Haleyville City Hall.