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Westmoreland council awards $685,060 paving contract; approves 10-year financing with TML bonds
Summary
The Westmoreland City Council unanimously awarded a $685,060 paving contract to Rogers Group and approved a separate resolution to finance the work through Tennessee Municipal League bonds at a 4.49% interest rate for 10 years.
The Westmoreland City Council voted unanimously Sept. 18 to award a city paving contract to Rogers Group and to authorize financing through Tennessee Municipal League bonds.
The council approved awarding the paving bid to Rogers Group, which submitted the low bid of $685,060; Sessions Paving submitted a competing bid of $846,340. Vice Mayor Jones moved to award the contract; Councilman Castleman Staples seconded the motion. Council members voted in favor and the mayor declared the motion passed unanimously.
The council then approved financing for the project by passing Resolution R092025-1 to accept a Tennessee Municipal League (TML) bond at a stated rate of 4.49% for a 10-year term. Vice Mayor Jones made the motion to adopt the resolution; Councilman Staples seconded. The council voted to approve the financing resolution unanimously.
City staff told the council they expect to sign the paving contract in the following week and to execute financing documents thereafter. Staff noted the financing choice followed price comparisons: TML’s quoted rate was about 0.5 percentage points lower than an alternative bank quote from Macon Bank, which staff listed at 4.99%. The council recorded that TML has worked with the city before.
Council members asked about schedule coordination with utility work on Clyde Wicks and confirmed paving coverage will be “from county line to city line” along Austin Peay/Highway 31, with paving not to begin until the utility work and gas-line crossings are complete.
Clarifying details from the meeting: Rogers Group bid $685,060; Sessions Paving bid $846,340; financing term discussed was 10 years; TML rate stated as 4.49%; Macon Bank quoted 4.99% (all figures as stated by staff during the meeting).
The council’s unanimous votes allow staff to proceed with contract execution and to prepare the formal financing resolution and documents for signature. City staff indicated they will finalize contract signatures and proceed with scheduling work in coordination with utility contractors.
