Wednesday, August 17, 2016

Intermodal Authority Grants approval to Renew Loan

In a relatively brief board meeting on Wednesday August, 16th, the Southeast Arkansas Intermodal Authority Board voted to renew its revolving loan with Commercial Bank of Monticello in the current amount of $359,147.19 and to pay current interest in the amount of $638.52.  The loan is due August 22, 2016, thus the need to renew.

The board granted authority to apply for $150,000.00 from the Delta Regional Authority to be used to conduct road work within the Intermodal Park.

According to the financial statement presented and approved, the two cities and two counties currently owe the authority the following:
City of Monticello-$105,921.79
City of Warren-$107,269.33
Drew County-$154,364.51
Bradley County-$224,261.06

The Mayors of Warren and Monticello continue to be committed to contribute on a annual basis as approved by their respective city councils.  No official information has been provided concerning future financial plans of the two counties.  

No comments:

Post a Comment