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Winfield council backs 4.9% bank bid, authorizes mayor to pursue Big Mike Steakhouse incentive and approves bills
Summary
At its Oct. 21 meeting, the Winfield City Council accepted a 4.9% five‑year loan bid for $34,174, voted to authorize the mayor to execute an incentive agreement to attract Big Mike Steakhouse to city property near Exit 30, tabled a personnel evaluation and approved accounts payable.
The Winfield City Council on Oct. 21 accepted a 4.9% loan bid for $34,174 over five years and authorized the mayor to negotiate and execute an incentive agreement with Big Mike Steakhouse, city officials said.
At the start of the meeting, the presiding official presented two sealed bids for a five‑year, $34,174 financing package: State Bank Trust offered the loan at 4.9% with no bank fees, while System Bank of Winfield bid 5.75% with no fees. The mayor recommended the State Bank Trust bid; a motion to accept the recommendation was made and the council…
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