Refinance on loan will save PPSD on interest

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By Stan Welch

PIEDMONT – The Piedmont Public Service District Board of Commissioners took care of a good bit of housekeeping Monday night, awarding contracts for the next three years’ lawn maintenance and auditing services. They also approved a refinancing of one of the department’s fire trucks.

The lawn maintenance contract, set for three years, was awarded to Evans Landscaping from Simpsonville, for a cost of $750 per month. The next lowest bid was $945 with a high bid of $980, the amount paid under the current contract.

In the case of auditing services, the current contract holder, Love, Bailey and Associates lowered their bid by a thousand dollars a year, to $7500 for each of the next three years. The highest bid was from Elliott Davis, LLC, at more than twice the awarded price.

The Commission also approved a refinancing agreement with the local TD Bank. The $240,000 cost of the department’s 2010 pumper truck was originally financed at 5.15%, with an annual balloon payment of $35,952. At the new rate of 3.75%, the annual cost will drop to $34,788, for a savings of $1164 a year.

The payments will be made monthly, however, instead of an annual payment. There are eight years left on the loan on the 2010 Sulphen truck.

Commissioner Rudy Rhodes also reported that the resurfacing of the community building parking lot is completed, and it has been relined. The roof of the small gymnasium is leaking and will have to be repaired soon. No price has been determined yet.

Commissioner Pack reported that the community building generated $215 in rental income during February. The Commission scheduled a budget workshop for Thursday March 24 at six p.m., with a rescheduled meeting to be held on the 28th at the usual time of seven p.m.