Bourbon County commissioners approve excavator contract with 4.99% financing, chair authorized to sign

Bourbon County commissioners voted to accept a contract to finance the purchase of an excavator at an interest rate of 4.99% and authorized Chair Samuel Tran to sign the agreement during a special meeting.

Joe Allen moved to "accept that... the contract from Bowling, I guess, for the excavator with the interest rate of 4.99," and the motion was amended to allow the chairman to sign the contract, Allen said. The motion was seconded by Commissioner Birbauer, according to the meeting record.

Commissioners discussed whether to seek alternative financing through a request for proposals to local banks. A committee member said the RFP process could take about a month to generate bids, while Commissioner Samuel Tran said his understanding was that only two regional banks routinely process municipal loans, one local and one not, so local options could be limited. "4.99 is pretty good interest rate in my opinion," the committee member added.

Micah Mobern Key, Mervin County District 5 commissioner, said he planned to explain his vote and wanted to "wait on that Baker Tilly to make sure the labor encumbered our money is safe." After brief discussion the chair called for a voice vote and the motion was recorded as approved.

The chair said that once signed the clerk would receive the contract and provide copies to commissioners. Commissioners also noted warranty terms included with the equipment package: 24 months or 1,000 hours, and speakers estimated the machine could meet county needs for roughly 10 years under current usage patterns.

The meeting concluded after commissioners approved the motion and handled routine signing logistics; the commission adjourned afterward.