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Van Buren Quorum Court OKs $300,000 line of credit to finish Baker Lake Road mitigation
Summary
The Quorum Court authorized the county judge to sign a $300,000 line of credit with First Service Bank of Clinton to bridge upfront costs for mitigation work on Baker Lake Road; the county said a $300,000 reimbursement grant will repay the loan.
The Quorum Court of Van Buren County on a unanimous roll-call vote approved Ordinance O 202413, authorizing the county judge to execute a $300,000 line-of-credit agreement with First Service Bank of Clinton to cover mitigation work on Baker Lake Road.
County Judge (name not provided in the transcript) told the court the line of credit is intended as a short-term bridge because the county must incur project costs up front and will be reimbursed later. "It's a reimbursement grant, so we have to incur the expense upfront and then get the reimbursement on the backside,"…
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