County refinances bond issues
The refinancing of the balance on two Series 2000 general obligation bond issues totaling $2.5 million was completed by the Morgan County Commission at its regular meeting on Tuesday.
Subject to the refunding, which came at a significant savings on interest cost, were a Series 2000 general obligation taxable issue with a balance of $1.76 million and a Series 2000 general obligation issue with a balance of $805,000.
The repayment of the bonds was extended to 2020, with the interest rate ranging from 2.0 to 3.25 percent.
Joe Jolley and Co. of Birmingham managed the refunding project and Regions Bank of Birmingham was listed as the paying agent.
In another matter, the chairman was authorized to execute an agreement between the commission and Alabama Department of Transportation for construction cost financing related to the replacement of a bridge on Gandy’s Cove Road in District 3.
The project has already been bid and will move forward at a total cost of $599,490, according to Morgan County Chief Engineer Greg Bodley. Of the total, $479,592 will come from federal aide funds and the remaining $119,898 will be paid with county funds.
The chairman was also authorized to execute an application from the West Morgan and East Lawrence Water and Sewer Authority to purchase the Courtland and North Courtland water and sewer systems.
Don Sims, president, reported that both Lawrence County municipalities are currently purchasing water and sewer services from West Morgan-East Lawrence at wholesale. He said some repair work will have to be made on both systems but indicated that plans are to stabilize customer rates.
“I don’t think we’d enter into something that would cause a rate increase to our existing customers,” he said.
The commission acted on other matters as follows:
• Accepted a bid of $14,760 from Watch Guard to purchase three in-car digital camera systems for the Morgan County Sheriff’s Department. The purchase will be funded by a JAG grant. No other bids were received.
• Approved payment of $1,373 to the Association of Tennessee Valley Governments for annual membership fees for the Morgan County Commission.
• Approved payments from the Tourism, Recreation and Convention Fund as follows: Eva Art Guild, $1,000; Hartselle Athletic Booster Club, $150; and Decatur-Morgan County Chamber of Commerce directory, $2,980.
• Authorized the chairman to execute an agreement between the commission and the Alabama Department of Public Accounts in the amount of $10,230 for an audit of federal assistance received by Morgan County from Oct. 1, 2008, through Sept. 30, 2009.
• Authorized the chairman to execute a grant agreement between the commission and Alabama Department of Youth Services in the amount of $22,500 for electronic monitoring systems for the Morgan County Juvenile Court. In a separate but related action, the chairman was authorized to advertise for bids for the electronic monitoring devices.
• Authorized the chairman to execute a “Letter of Election” in the amount of $570 monthly for 36 months for aT1 phone line service to the county animal shelter and Environ-mental Services building in Hartselle.
• Approved the upgrade of an employee position in District 2 from Operator I to III.
• Approved a certificate to subdivide and/or consolidate for Mike Nixon and Shirley Faye Reeves (Slack), N. Robinson Rd., District 3
• Authorized the chairman to execute an agreement between the commission and Community Action Agency of North Central Alabama for transportation Services for Foster Grandparent and Senior Companion programs.
• Authorized the chairman to execute the Bryne (JAG) Justice Assistance Grant in the amount of $25,000 for an Electronics Fingerprint Program for the Morgan County Sheriff’s Office, April 1 through Mar. 30, 2011.
• Approved a donation of $3,000 to Falkville Public Library payable out of District 3 road and bridge funds.
• Authorized the chairman to advertise for bids and/or purchase off the state bid list a new pull-type rotary cutter as a replacement for District 3.
• Approved a refund of sales tax in the amount of $553 to Stone River Inc.
• Approved payment of $6,284 to Harris, Caddell and Shanks P.C. for legal services performed during the month of May.