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McCreary County Fiscal Court approves loan

By Greg Bird

The McCreary County Fiscal Court met in special session last Thursday to conduct a few items of business not covered earlier this month. The agenda for the 9-minute meeting had eight actionable items, including approving a SMART loan.
Deputy Judge Nathan Nevels said the loan was to go to a new business in the county. As the loan program is proprietary, no information other than the amount and terms of the loan are publically available. The Court approved the $20,000 loan through the revolving loan program with a standard 3-percent interest rate over an 8-year term. The Fiscal Court would be listed as the primary lien holder on the secured loan.
The loan was recommended by the County’s Industrial Development Authority Board, who is charged with reviewing all loan applications and forwarding ones they feel meet guidelines to the Fiscal Court for final approval.
In other actions Thursday the Fiscal Court approved advertising two bids, one for advertising materials for the spec building, and the second for a refurbishment of a McCreary County ambulance.
The Court also renewed the franchise agreement with Highland Media LLC, approved the 2018 fee settlement from Sheriff Randy Waters, hired a new general laborer and approved a resolution with the Kentucky Transportation Cabinet for drainage repair and replacement on Old Bailey Road.
The Fiscal Court is scheduled to meet in regular session on Thursday August 8 at 6:00 p.m.

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