Caswell County selects First National Bank of Pennsylvania as preferred lender for UHF radio system and ambulances
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Summary
The Caswell County Board of Commissioners voted to name First National Bank of Pennsylvania the recommended lender for financing a new UHF radio system and ambulance purchases and approved a preliminary findings resolution to authorize an application to the Local Government Commission; final financing documents will return for approval Dec. 1.
The Caswell County Board of Commissioners on Nov. 17 selected First National Bank of Pennsylvania as the recommended lender for financing the county’s planned UHF radio system and ambulance purchases and approved a preliminary findings resolution to allow application to the North Carolina Local Government Commission (LGC).
Emily Jessup, bond counsel for the county with Sandbird Holzhausert, told commissioners the resolution presented is the second and final county action needed to “formally approve the winning bank proposal and approve all of the associated financing documents.” Jessup said a substantially final draft financing contract is in the packet and would be reviewed by the lender’s counsel before return to the board for final action.
Ty Welford of Davenport, the county’s financial advisor, said the board’s decisions tonight — selecting a bank and adopting the preliminary findings resolution — were intended to allow the LGC to consider Caswell’s application at its Jan. 6 meeting. Welford cautioned that placement on the LGC agenda also depends on the fiscal side of the LGC’s review, including audits, but said the county’s ongoing work has produced positive conversations with the commission.
Commissioner Rose moved to approve First National Bank of Pennsylvania as the county’s lender for the UHF system and ambulances; the motion passed with a tally the chair reported as 5–2. Commissioners then moved and approved the preliminary findings resolution that authorizes staff to apply to the LGC for the financing; the chair reported that motion as carrying as well.
Counsel and staff repeatedly stressed that approving the bank selection and findings resolution does not bind the county to a final contract. Jessup said the draft contract in the packet does not yet include the bank‑filled details (such as the payment schedule and equipment list) but that those elements would be completed and presented for board approval at the Dec. 1 meeting.
Next steps: staff will complete coordination with the bank and lender counsel, finalize the financing contract and enterprise lease documents, and return the finalized documents for a Dec. 1 vote so the county can pursue LGC review in January.
