The city’s engineer now has permission to pursue a $4 million loan to upgrade McMinnville’s Waste-water Treatment Plant.
The Board of Mayor and Aldermen met for a special called session on Thursday night and unanimously approved a resolution to secure the funds. Voting in favor were Mayor Jimmy Haley and Aldermen Jimmy Bonner, Everett Brock, Mike Neal, Steve Harvey and Ryle Chastain. Vice Mayor Ben Newman was absent.
Now that the resolution can be signed by Haley, engineer Anthony Pelham will hand deliver the loan documents in Nashville to make sure they are received by March 25, the deadline for the city’s loan request in order to receive $200,000 in principal forgiveness and a low interest rate on the $4 million. It amounts to $256,000 annually for debt service for 20 years.
The city was informed of the loan March 10. A committee meeting to consider it was March 16 and the special board meeting was held March 19 in order to make the March 25 deadline.
City administrator Bill Brock says what appears to be the city rushing on a loan was actually caused by a mailing error, as the first loan package was sent in January to the Blue Building.
“I don’t want anyone to think we are trying to run this through in a hurry,” he said. “This package should have come back in January. We didn’t get it. Anthony and I were communicating back and forth. He finally asked where the packet was and they said they had sent it. They did and we got it on Monday. I looked at the date on the packet and it went to the Blue Building, 211 Colville Street. How we got it the second time, I have no idea. Obviously the postman noticed something and we got the second one delivered to us.”
If the city meets the delivery deadline, it is assured approval on the loan request.