Bond reissue proposals reviewed

By Melinda L. Lucas

Shackelford County elected officials met in a special session on Monday morning, Nov. 16 to canvass the votes from the Nov. 3 General Election and go over a couple of proposals to refinance the county’s bond for the Law Enforcement Center (LEC), as well as add two grant recipients to the list of county-owned small businesses.

The election numbers that were reported earlier this month were validated without any changes.

Bond Proposals

In response to two recent presentations by different companies regarding the possibility of reissuing the bonds for the LEC at a lower interest rate, the commissioners met with Steve Waller of First Financial Bank to go over the offers.

Waller cautioned the county officials to watch details about fees but stated that the county should save a substantial amount by reissuing the bonds.

The bonds for the LEC were originally issued in 2011 at interest rates ranging from 4.6 to 5.45 percent. Because current rates are well under two percent, the county’s savings would be substantial, and the final maturity date of 2031 would not change.

Relief Grants

Two more companies outside the Albany and Moran city limits were added to the 19 small businesses already approved for small Coronavirus Relief Fund Grants allocated to Shackelford County.

Each of the 21 businesses will receive equal portions of just under $790.

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