Falkville Council votes to seek $800K loan
By Clif Knight
For the Enquirer
The Falkville Town Council introduced and approved an ordinance to borrow $800,000 through the Alabama Municipal Funding Corporation to finance or refinance capital projects at a regular meeting March 7.
The AMF Fund is sponsored by the Alabama League of Municipalities, which has established a pooled financing program through which municipalities may act jointly to obtain funds to finance projects and related undertakings on a cooperative and cost-efficient basis.
The interest rate on the loan is not to exceed 2.69 percent.
In other council action, members approved a proclamation recognizing April as Fair Housing Month in Falkville. They also:
- approved for a step raise for Brooke Jones upon her completion of accounts payable utility billing training.
- approved a $26,605 change order for the TAP grant project.
- approved the use of American Rescue Funds to purchase a vacuum pump from Vermeer Southeast at a cost of $52,050.92 and property from Peebles Oil Co. for the realignment of Buster Road for its appraised value.
- approved the purchase of a Sharpe copier for the administrative office at a cost of $6,147.91.
- authorized Mayor Ken Winkles to seek additional grants to finance the painting of a large Falkville mural on a commercial building at the Falkville red light. Winkles reported he has received one grant for $2,500.
- authorized the mayor to contract with Joe Wheeler Electric Membership Cooperative to install a three-phase electric station at the Falkville Lagoon for approximately $35,000. Winkles said the new equipment is needed to operate an ongoing filtration process that will control sludge growth.
- announced upcoming community events, including an Easter Egg Drop at South Park April 9 at 2 p.m. and a Town Yard Sale April 29-30.