After conducting a relatively brief board meeting, the Southeast Arkansas Intermodal Authority Board was called into an executive session. Normally, under state law, executive sessions are to discuss some type personnel issue. The authority at this time has no employees and no purpose of the meeting was announced. No action was taken after the session.
During the regular meeting, the board approved minutes and the current financial report. The report listed the following as receivables from the two cities and two counties that legally own the intermodal facilities:
*Monticello- has a credit of $10,836.91, This means the authority owes the city a refund
*Warren-$35,812.91
*Drew County-$20,619.87
*Bradley County-$153,862.50
The board voted to take available cash balances and repay Monticello $10,836.91, pay current bills in the amount of $824.01 and pay $90,000.00 on the loan through Commercial Bank. The authority expects $75,000.00 from the state after July 1, 2018. Unless altered by the state legislature, the authority will receive $75,000 per year in the future. That is subject to legislative budgeting yearly.
There was discussion about the need to get industrial capable electricity to the intermodal site. Gregory s. Smith, CEO/General Manager of C & L, told the board that C & L will work with them and the cost to the intermodal would depend on the size of electrical consummation of any business locating in the park. The board also talked about the long standing issue of moving the railroad switch and who is responsible for paying the cost. No one was present from the railroad company or the engineering firm. Some emails were read that concerned the rail.
During the regular meeting, the board approved minutes and the current financial report. The report listed the following as receivables from the two cities and two counties that legally own the intermodal facilities:
*Monticello- has a credit of $10,836.91, This means the authority owes the city a refund
*Warren-$35,812.91
*Drew County-$20,619.87
*Bradley County-$153,862.50
The board voted to take available cash balances and repay Monticello $10,836.91, pay current bills in the amount of $824.01 and pay $90,000.00 on the loan through Commercial Bank. The authority expects $75,000.00 from the state after July 1, 2018. Unless altered by the state legislature, the authority will receive $75,000 per year in the future. That is subject to legislative budgeting yearly.
There was discussion about the need to get industrial capable electricity to the intermodal site. Gregory s. Smith, CEO/General Manager of C & L, told the board that C & L will work with them and the cost to the intermodal would depend on the size of electrical consummation of any business locating in the park. The board also talked about the long standing issue of moving the railroad switch and who is responsible for paying the cost. No one was present from the railroad company or the engineering firm. Some emails were read that concerned the rail.
No comments:
Post a Comment