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Jackson County Facilities Authority accepts $450,000 loan from Equity Bank, closes MidFirst account
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Summary
At a Jan. 12 special meeting, the Jackson County Facilities Authority approved minutes, voted to close a MidFirst account ending in 1671, and accepted a $450,000 funding quote from Equity Bank at 4.65% to support the Jackson County Courthouse project; no action was taken on a contractor item.
The Jackson County Facilities Authority voted Jan. 12 to accept a $450,000 funding quote from Equity Bank at 4.65% interest to support the Jackson County Courthouse project and to close a MidFirst account ending in 1671.
Member Kirk Butler moved to approve the two items and Vice Chairman Rhet Johnson seconded both motions; Chairman Mike Wallace joined the unanimous votes. The board also approved minutes from Dec. 15 and Dec. 16, 2025.
Financial Advisor Randy Nelson presented three written funding quotes for the $450,000 courthouse financing: Equity Bank at 4.65%, BOK Financial at 4.37%, and Shamrock Bank at 6.65%. The authority accepted Equity Bank’s quote, with the minutes noting a board preference to “keep the funding local.” The minutes do not record further terms beyond the quoted interest rates.
The board discussed a spreadsheet of available funds for the courthouse project and approved a separate motion to close the MidFirst account identified in the minutes as ending in 1671. No additional account details or successor account instructions are specified in the minutes.
An agenda item listed as “CONSIDERATION AND POSSIBLE ACTION WITH JOE D HALL GENERAL CONTRACTORS REGARDING ALL ASPECTS OF THE CONSTRUCTION OF THE JACKSON COUNTY COURTHOUSE” was on the agenda but the minutes record that no action was taken on that item at this meeting.
Chairman Mike Wallace called the meeting to order at 8:45 a.m. and adjourned it at 8:51 a.m. The minutes list the next meeting as Tuesday, Jan. 20 (the year is listed in the minutes as 2025, which appears to be a typographical error given the Jan. 12, 2026 meeting date); the clerk’s posting/notice is recorded as Jan. 9 at 8:52 a.m. (the minutes’ text contains a typographical time error recorded as “8:521 a.m.”).