Commissioners had recently considered loaning their funds to
The payoff as of
The NCER five-year loan would have a zero-percent interest rate, a 1 percent loan origination fee and no pre-payment penalties.
"Both Sharon and Tim said if you can get that cheap of an interest rate it makes sense to them," he told commissioners on Monday night.
Hicks said Edmundson and Romocki recommended the county ready the application for the
The county board adopted a resolution authorizing the filing of an application with the LGC. A public hearing has been set for
With the dissolving of the NCER on
"If we don't have anything," Garner had stated in January, "we would be hard-pressed to have anything in there by March."
But later it was determined that counties could use only their own funds. Garner, a former banker, then posed the idea of paying off the BB&T loan as a quick application process in applying for the funds, which would be lost if not obtained before NCER dissolves.
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