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Poplar Bluff council approves short-term bridge loan to cover tornado costs
Summary
The City Council adopted an ordinance to accept a short-term bridge loan from People’s Community Bank to cover storm-related expenditures while the city awaits FEMA reimbursement for the March 14 tornado (FEMA-4867-DR). The loan carries a 4.47% interest rate and is due Dec. 31, 2026; interest will be budgeted in 2026 and is not FEMA-reimbursable.
The Poplar Bluff City Council on July 21 adopted an ordinance authorizing a short-term bridge loan from People’s Community Bank to cover storm-related expenditures from the March 14 tornado while the city waits for federal reimbursement under presidentially declared disaster FEMA‑4867‑DR. City Manager Robert Nodell told the council the city has incurred “significant cost and expenditures above and beyond the normal operating budget” for overtime, equipment repairs, debris removal and other storm work and that a presidential disaster declaration was issued on May 21, 2025. He said federal…
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