Graham elected to AMFund board of directorsPublished 2:33pm Tuesday, October 16, 2012
By CHRISTINE BOATWRIGHT / Staff Writer
CALERA – Calera Mayor Jon Graham was recently asked to serve on the Alabama Municipal Funding Corporation board of directors.
AMFund is the funding branch of the Alabama League of Municipalities, designed to help Alabama municipalities find funding for capital projects, improvements and refinancing of existing debt, Graham said.
“Some cities that are having trouble finding lending institutions can come to and submit through the AMFund website and submit application, and it’s approved relatively quick. There are some good interest rates available to the municipalities.”
Graham was nominated for the board by the former mayor of Berry, who decided not to run for re-election. Members of the five-member board must be elected officials, Graham said.
“It is a statewide board. It serves all municipalities,” Graham said. “In today’s world, it’s people knowing people, and the connectivity of people is what really makes a difference in day-to-day lives. It helps to know people when you have needs. This is further extension of people understanding Calera and what Calera is about.”
Graham said he attended in an orientation two weeks ago, and will take the position officially Nov. 5.
“I’d say AMFund is maybe not everything to everybody, but definitely cities need to explore the opportunities. I understand everyone’s financial situations are different,” Graham said. “It’s just another avenue, another option if a city is struggling to find somebody to lend money for capital improvements or financing of existing debt. It’s just another tool the shed.”