Aldermen Handle Routine Business
Aldermen Handle Routine Business
By David Howell
Editor
WATER VALLEY – It appears the city will not earn much interest on the money banked in 2016 after receiving bids from three banks competing to serve as the city’s depository. The bids were opened during the January city board meeting, held Jan. 5.
Mechanics Bank bid .51 percent, Regions Bank bid .50 percent and Renasant Bank bid .03 percent. The bids were taken under advisement at the request of Mayor Larry Hart to review the full details in each bid.
Aldermen also voted to take bids under advisement from two companies submitting bids for culverts purchased by the city. Coburn Supply Company of Tupelo and G & O Supply Company from Houston submitted bids to supply metal, concrete and polyethylene culverts for the city in 2016.
Other business conducted in the brief meeting included:
• Accepted a recommendation from the electric department to write off $3,669.58. Mayor Hart noted that while the amount is removed from the department’s receivables, the city still continues to accept collection.
• Approved expenses for City Board Attorney to attend a Municipal Attorney seminar in Jackson later this month.
• Spread on the minutes the tax exemption final orders for three local industries: BorgWarner (true value $16,805,548), Yalobusha Brewing Company (true value of $264,000), and Allied Group (true value of $11,300). All of the exemptions are for 10 years, starting in 2016, and were certified by the state.
