Laserfiche WebLink
<br />Memorandum CWCB Members <br />March 11,1981 <br />Page four <br /> <br />Due to the above difficulties in making $36,000 <br />available to Starkville by March 16, 1981, the staff is asking <br />the Board's permission to allow them to process a CWCB contract <br />for $36,000, without any matching funds readily available on <br />behalf of the town. Such action by the Board would enable <br />Starkville to qualify for a short term loan from any local <br />bank, by Monday, March 16, 1981. It is expected that the <br />interest for such a loan for about a three month period may <br />be between $1,500 and $2,000 and the staff expects Starkville <br />to pay from their own money for this expense. <br /> <br />The staff recommends the above action because it <br />appears to them to be the only way that would quarantee the <br />timely availablility of money to Starkville, and at the same <br />time provide an assurance that the project would not be escalated <br />to such an extent to become prohibitively expensive to the town. <br /> <br />JWM: pm <br />