County agrees to aid schools in refinancing
Published 12:00 am Tuesday, July 15, 2003
The Shelby County Commission entered into an agreement Monday that could save the Board of Education up to $800,000.
Taking advantage of low interest rates in a move referred to as &uot;synthetic fixed rate financing&uot; of the schools’ $21 million debt, the county agreed to stand in for the school system, taking possession of three county schools as collateral.
Commissioners voted on the move at the regular Monday meeting.
The measure passed unanimously, with Commissioners Don Armstrong and George Dailey absent.
Shelby County Manager Alex Dudchock
told the commissioners during a previous meeting that the schools involved would be Elvin Hill Elementary School, Columbiana Middle School and Shelby County High School. He said the school board would lease the schools from the county and remain responsible for them.
It was estimated the move would save the school board between $800,000 and $1 million in interest payments.
County will collect DA’s one-cent tobacco tax
The District Attorney’s new one-cent tax on tobacco products will be collected by Shelby County, according to county finance manager Butch Burbage.
Burbage said the county currently collects two cents on tobacco and tobacco products sold, stored, delivered, used or consumed in Shelby County.
The additional one-cent tax was levied by the Alabama Legislature during its last session at the request of District Attorney Robby Owens. Funds from the tax collections will be used by the district attorney’s office.
Burbage said currently, wholesalers place a two-cent stamp on tobacco and tobacco products.
Retailers sell the products and send the collected tax revenues in to the county.
He said the county would then distribute the money directly to the DA’s office.
Commission awards printer, tank bids
The Shelby County Commission approved bids for printers/plotters and a 5 million-gallon water storage tank.
Receiving the bid for a 42-inch printer/plotter and a 60-inch printer/plotter was Logistica at $10,132 for the 42 inch and $16,286 for a 60 inch.
Other bidders included Sai Computers, Multiwave, Venture, Info Serve-Tech, Gateway, In-Line Computers, Hi-Tech Computers and Howard Computers.
Pipe & Equipment Company Inc. was awarded the bid for a 5-million-gallon water storage tank at some $1.7 million. The tank will be located along Highway 280 almost due south of the existing water tank.
Other bidders included Precon Corporation, Gilco Contracting Inc., Chris Mathews Construction Inc., DRM Utilities LLC and North Florida Construction Inc