President Richard Greenhill called the Special Board Meeting of the Woodrow-Osceola Water Supply Corporation to order at 6:30 p.m., Monday, September 25, 2006. All Directors were present, with the exception of Bill Coleman and Linda Hasselstrom. Employee Dave Tomlinson was present, along with 2 members.
Item 2: Well #6
Richard Greenhill told the Board after the Special Board Meeting September 18th, 2006, he met with Terri Blevins and was told the interest had been lowered to 3.5%. Terri said she would re-calculate the loan and would contact either Richard or Johnnie. Johnnie Bankston was contacted with the re-calculation of a 100% loan at 3.5% interest, with no grant. The monthly payment would be $6,169.00 with a $616.90 monthly reserve, totaling $6,785.90. The Corporation would need to collect $37.00 per connection. Tim Rochelle made a motion to rescind his motion, to apply for a 92% loan, at 4.5% interest, with an 8% grant, making a payment of $6584.00 monthly and a $658.40 monthly reserve. Sandra Chilcutt seconded. Vote was unanimous. Tim Rochelle made a motion to apply for a 100% loan at 3.5% interest, with no grant, making a monthly payment of $6,169.00 and $616.90 monthly reserve, totaling $6,785.90. Sandra Chilcutt seconded. Vote was unanimous.
Item 3: Public Comment
None
Item 4: Executive Session
Adjourned to Executive Session at 7:00 p.m. Upon reconvening at 7:50 p.m. no action was taken.
Item 5: Adjourn
The Board adjourned at 7:50 p.m.
Respectively Submitted,
Johnnie Bankston
Secretary/Treasurer
Woodrow-Osceola Water Supply Corporation
WOWSC is an Equal Opportunity Provider and Employer
To file a complaint of discrimination write:
USDA, Director of Civil Rights, Room 326-W, Whitten Building, 14th and Independence Ave, S.W., Washington,D.C. 20250-941-, or call (800)795-3272 (voice), or (202) 720-6382 (TDD).