Clanton will save $3 million by paying off loan early
Clanton will save about $3 million by paying off early a loan for the construction of the city’s Conference and Performing Arts Center.
Clanton’s City Council at a regular meeting Monday approved an ordinance recommended by Mayor Billy Joe Driver related to repaying the debt.
A $12 million, 25-year note was signed when the facility—a joint endeavor between the city and Jefferson State Community, which operates a campus adjacent to the center—was constructed in 2007, and the first payment was made by the city in 2008.
The city has made a total of nine annual payments of $870,000 each.
Driver recommended re-issuing the bond for about $9 million remaining on the loan and paying off the debt six years earlier—in 2027 instead of 2033.
In other business, the council:
•Approved renting the E.M. Henry Community Center to Head Start for $1,000 per month, with the city providing all utilities.
•Approved sub-contractors Tri-County Construction and Southeast Sewer Services Incorporated for Phase 2 of the West End sewer rehabilitation project, which is being performed through a community development block grant. The contractor is Gulf Coast Underground.
•Approved paying a bill in the amount of $22,280.93 to W.H. Thomas Oil Company Inc.
•Approved hiring Jack Hooper as a truck driver in the street department at the rate of $10 per hour effective Aug. 1.
•Presented for the first time an application for a restaurant retail liquor license for Lea Enterprises LLC doing business as Neighborhood Grill and Catering, located at 309 Seventh St. N. The application would have to be presented a second time before being approved.
•Approved a motion for the mayor to take action on blighted areas at the request of each council member.
•Approved minutes from the July 25 meeting.