Clinton County drainage board approves Farmers Bank loan for reconstruction project
The Clinton County Drainage Board voted to engage Farmers Bank for a reconstruction loan after hearing that Farmers Bank and Encompass Credit Union offered similar rates (~5.6%–6%). The board discussed a five-year loan with a balloon payment and approved the engagement by a 3-0 vote.
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The Clinton County Drainage Board voted to proceed with Farmers Bank to finance an upcoming reconstruction project after staff reported competitive offers from two lenders.
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