Friday, January 22, 2016

Intermodal Discusses Water Line Repairs and Finances

The Southeast Arkansas Intermodal Authority did not have a quorum present for their January, 2016 meeting held in Monticello on the 20th.  After receiving reports and discussing issues, absent board members were called by telephone and votes were taken.

The monthly financial report was provided.  It showed the following amounts being owed by the two cities and two counties that created the authority:
Bradley County-$242,508.07
Drew County-$172,611.57
The report showed a note payable to Commercial Bank in the amount of $509,147.19 as of January 20,2016.

Drew County Judge Robert Akin told the members that Drew County had budgeted $40,000 for 2015 and $40,000 for 2016.  He indicated both would be paid after the muti-year audit is completed and a bill is received.  It was reported that the audit, which covers around three years, should be completed in a few weeks.  Both Monticello and Warren are budgeting annually and making payments.  Bradley County's status is unknown.  All the entities questioned have reported they have no agreement to pay the full loan, but Warren, Monticello and Drew County leaders have indicated it would be considered yearly.

It was noted that plans call for filling the new water tank on the intermodal site.  Monticello is providing all water and sewer services to the park in accordance to Monticello rates.  Mayor Tucker of Monticello said the filling of the tank will have to be done in a manner not to put too much stress on the Monticello system.  He also reported  a water leak near the site that feeds the park.  He stated Monticello wanted to discuss the intermodal helping pay for the repairs.  It appeared from the comments made that the leak is not on the intermodal property.  The Mayor also said there needs to be a maintenance agreement between the City of Monticello and the Intermodal Authority.

Some time was spent talking about securing an appraisal of the park in order to convince the city councils and quorum courts of the need to continue contributing money to the intermodal.  Drew County Judge Akin stated it would "be crazy not to participate," seeming to  mean the project was important and too much had already been invested to stop local funding.

Kevin Sexton, Sr. Regional Manager for the AEDC, told the board that other communities are lined up to give facilities away and that is the competition faced in Southeast Arkansas.  He recommended no appraisal at this time.

The board voted, including those by phone, to authorize the phone bill to be paid monthly, and to work out an arrangement to pay Monticello for parts to repair the water leak.  The phone bill is for a line to notify authorities if the light on the water tank goes out.  At this time the authority has no routine income and relies on grant funds and money contributed by the cities and counties.  All grant funds have to be utilized for facility construction and not operating expenses. 

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