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$18K suspected drug money seized
Monitor Staff Reports
KEMP–Another traffic stop for Kemp police turned out to be a drug bust,
where some $17,900 in cash was seized.
Kemp Police Chief Richard Clemmo reported a routine traffic stop
Saturday resulted in the arrest of Michael Nichols on the charge of
possession of a controlled substance, more than four grams.
Kemp Police Sergeant Johnny Law had made the traffic stop on a vehicle
for defective equipment, Clemmo said in a prepared news release.
Law requested permission from Nichols and his female passenger to search
the vehicle. Both gave their permission.
When Law opened the driver’s door, he discovered a brown plastic bag
containing a large amount of currency.
Review of the in-car video revealed the suspect had thrown something in
the grass alongside the road.
The area was searched, and a glass pipe with a crystal-like substance in
it was discovered, Clemmo reported.
After asking the standard questions concerning what the suspect might
have on his person, Nichols admitted to having a clear plastic bag of a
crystal-like substance in his possession.
When Law arrived at the Kaufman County Jail, Nichols was searched prior
to booking, and a large plastic bag continuing approximately five grams
of suspected methamphetamine was found.
Nichols was charged with possession of a controlled substance, more than
four grams.
The currency was taken for seizure through the District Attorney’s
office.
A K-9 drug-sniffing dog was used during the search of the vehicle, and
is a real asset to the department, Clemmo said.
“They’re working hard,” Clemmo said of his department. “They’re doing a
good job and I’m proud of them.”
Law also was involved in a second incident over the weekend. Although
the subjects got away, a warrant has been issued for their arrest.
Law conducted a traffic stop on a 2007 Chevrolet pickup at U.S. Highway
175 and City Lake Road.
The driver was identified as Frank Rains, and his passenger was
identified as Mary Deal.
Rains is from the Kemp/Mabank area, while Deal’s address is listed as
Peachtree Street in Balch Springs.
The subjects had identified themselves, but both began to act nervous,
Law reported.
Rains then put his vehicle in drive and left the scene, fleeing down
City Lake Road to Nichols Lane, Law reported.
The truck continued through the dead end, damaging a pipe fence and
trees. Both passengers made their escape on foot.
Since both subjects were identified in the initial stop, warrants are
being issued for their arrest, Clemmo said.
Guaranty Bank may face FDIC control
By Barbara Gartman
Monitor Staff Writer
KAUFMAN–The bigger they are, they harder they fall, may prove true for
Texas’ No. 2 bank, Guaranty Financial.
With more than 150 branches across the state and in California,
including a branch in Kaufman, the Austin-based institute has assets
totaling more than $16 billion.
In an effort to reassure its customers, the bank issued the following
statement.
“We are open for business. We continue to work with our regulators on
providing the best customer service possible and believe we can avoid
disruptions to our customers.
“As a member of the Federal Deposit Insurance Corporation (FDIC),
Guaranty depositors have the same coverage as customers of other FDIC
member banks,” Guaranty Bank Executive Vice President John Wessman said.
Even with the large amount in assets, the bank has filed regulatory
papers declaring major loan losses and write-downs, leaving it
“critically short of capital.”
The fall of Guaranty Financial would be the largest bank in the nation
to go under this year.
Guaranty Bank is a subsidiary of the financial institution.
In the regulatory papers filed July 23, the bank has assured its
customers that “all their deposits are fully insured to the FDIC’s
fullest limits.”
In the history of the FDIC, no customer has lost any part of their
insured deposits.
Two of the largest investors are billionaires Carl Icahn and Robert
Rowling.
Their investment chain runs the Omni Hotels chain.
Guaranty Bank has been involved in trying to raise new capital from
shareholders, but will probably not be able to raise enough to be in
compliance with an April cease-and-desist order.
But considering the developments, the company believes that it will not
be able to continue as a going concern.
Guaranty said it has agreed to an OTS (Office of Thrift Supervision)
demand for an appointment of the FDIC as a receiver or conservator.
The appointment has not yet happened, and no date has been set for a
takeover. However, the OTS is exercising a “significant degree of
control” over what previously was the function of the board of
directors, Guaranty said.
Trustees purchase laptops
for all high school students
School board okays rebuilding high school track
By Kerry Yancey
Monitor Staff Writer
EUSTACE–After more than a year of discussion and planning, Eustace
school trustees agreed to spend about $213,000 to provide every high
school student with a book-sized laptop computer.
At least a couple of the trustees were under the impression the board
had already given a final go-ahead on the project, which involved
installing wireless repeaters throughout the high school campus and the
purchase of 600 laptops.
Board members held their last extended discussion on the laptop project
back in January, but delayed action until the district’s tax collections
and 2007-08 audit report were on hand.
In January, technology supervisor Gene Myers and head technician Rusty
Meyners said some delay might enable the district to obtain a lower
price for newer models.
At that time, Myers and Meyners thought the district would be able to
get around 450 laptops for about $250,000, so the board’s action July 21
will provide 150 more computers at a lower cost than originally
projected.
Turning to another major expense item, trustees authorized
superintendent Dr. Coy Holcombe to negotiate with Pro Tech Track &
Tennis Surfaces Inc. for a complete rebuilding of the existing track at
Bulldog Stadium.
Trustees told Holcombe they wanted either Option 2 ($102,000 for a
¾-inch latex surface) or Option 3 ($131,000 for a ½-inch polyurethane
surface).
The current track is 15 years old. The average life of a track surface
is about five years before it has to be scraped down to the base and
refinished, Holcombe said.
“Ladies and gentlemen, we got 15 years out of it,” he said. “We need to
be proud of that.”
Pro Tech has handled patching/repair work on the track in the past,
Holcombe said.
Most of the discussion centered around the time frame for the
14-to-21-day project, as trustees were reluctant to disrupt football
practices in the stadium, but realized waiting until after football
season might engender some weather delays.
Trustees eventually agreed to have Holcombe work with Pro Tech to have
the work done before the weather cools off, with a request to minimize
football practice disruptions.
In other business, trustees:
• took no action on repairs to Bulldog Stadium’s artificial turf,
damaged by joyriders July 18.
“We’re waiting on our insurance company to tell us how they’re going to
handle this,” Holcombe said.
He added the best scenario would be for the district’s insurance
providers, Trident, to work directly with the turf manufacturer.
• agreed to renew the district’s property and liability insurance with
Trident for $69,908.
• agreed to fund a new aide position to return the Alternative Education
Program (for suspended students) to Eustace.
Analysis showed the district could fund an in-house AEP program for
about what it cost to operate a cooperative program with the Mabank
Independent School District, Holcombe reported.
• approved a minor change to the class ranking policy, requiring a
student to be enrolled for seven consecutive semesters to be eligible
for class ranking.
• approved graduation requirement changes authorized by the Texas
Legislature.
“We basically didn’t change a thing for this year’s seniors, but we had
to word (the policy) differently,” Holcombe explained.
• approved a tax refund at the request of the Henderson County tax
assessor/collector’s office.
• agreed to purchase Springboard math materials for sixth, seventh and
eighth grades.
“This is a full textbook and full math curriculum,” Holcombe said. “This
will be a big step up for our whole math program.”
• accepted a revised bid from Kirby Restaurant Supply for
commercial-grade washer/dryer combos for the new competition gym’s
locker rooms.
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