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Council approves seeking $350k TRAN loan

Posted on Thursday, October 22, 2020 at 10:19 am

By David Knox

The Metropolitan Lynchburg Moore County Council convened Monday night and worked through a heavy agenda.

Among the highlights of the meeting were the approval of a Tax and Revenue Anticipation Note (TRAN) for $350,000 to make sure the county has enough cash flow to carry it through until property taxes start to come in.

The county has had this type of loan before, in 2019, 2016 and 2011. It hasn’t always need the funds, like last year, but this year the COVID-19 pandemic’s affect on county revenue makes it likely they will be needed. Essentially, the county has the money in the budget; it borrows from Debt Service and puts it in County General – it’s cash flow problem, not a shortage — but this action requires State Comptroller approval. The council had to approve the transfer. The vote was 14-1 in favor of applying to the comptroller for the note.

The council also had its second and third reading of the amended ordinance for utility board and the second reading of MUD’s $2.5 million loan for sewer repair. At the public hearing prior to the council meeting, no one spoke either for or against these actions.

The council heard a resolution from TDOT for making a turn lane in front of Moore County High School. There will be a public hearing next month on that matter prior to the council meeting.

According to Mayor Bonnie Lewis, the county will spend $192,330 to partner with Monster Broadband’s CARES Act money to provide broadband services to 162 more households and businesses on Goose Branch and Good Branch Road. This money comes from the county’s CARES Act allocations. When the CARES Act money comes in, the funds will be repaid to the Capital Projects budget.

Lewis also reported that the Moore County Health Dept. building will be relocated to the old Lynchburg Family Medicine building on Major Boulevard. The Health Dept. Building is in bad shape, she said, and has many issues, including plumbing, roofing and electrical. The decision has been made to tear down the building and rebuild it on the same site.

The council also approved Library Board members for 2020-21. They are Meghan Bailey, Chair; and Tammy Owen, Larry Luzader, Mary Thompson, Debbie Hart, Tim Moses and Shelly Maynard.

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