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Eustace to pay off First State Bank loan
EUSTACE–At the Feb. 2 meeting of the Eustace City Council, council members voted for an early pay-off on the total remaining balance of just over $96,000 on its loan with First State Bank.
The loan originated in November 2015 with an original balance of $268,000 and was used for water and sewer improvements in the city. Having paid off $172,000 over the course of seven years, the council determined it was in the best interests of the city to pay the remaining debt in full.
In other business, council members:
• Heard department head reports from City Secretary Sandy Lane, Public Works and Wastewater Supervisors Jack Lochabay and Valerie Hambrick, Police Chief Dan Huckabee and Volunteer Fire Chief Chris Anthony.
• Tabled zoning board and appointments discussion.
• Tabled discussion on condition and needs of city buildings.
• Approved order of May election and interlocal agreement with Henderson County for election.
• Accepted employee evaluations as discussed and documented.
• Made no motion on property development and rezoning for property ID 211046 and 211048.