Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
DeWitt County approves $222,000 promissory note to assist Thomaston Volunteer Fire Department
Summary
DeWitt County Commissioners voted to provide a secured promissory note totaling $222,000 to Thomaston Volunteer Fire Department to advance funding for a brush truck and water tank awarded by a Texas Forest Service grant. The note carries a 3.8% annual interest rate and matures April 26, 2027.
DeWitt County Commissioners on April 20 and April 27 approved steps to advance $222,000 to the Thomaston Volunteer Fire Department to acquire firefighting equipment awarded by a Texas Forest Service grant. County Judge Daryl L. Fowler moved the initial authorization to develop a short-term economic development agreement under Chapter 381 of the Local Government Code; the court approved that authorization 4–0 on April 20.
On April 27 the court formalized the financing by offering a secured promissory note for $222,000 with an annual interest rate of 3.8% and a final maturity date of April 26, 2027. Judge Fowler moved to offer the note and Commissioner Ryan Varela seconded; the motion carried 5–0. Nelson Prince, assistant fire chief for Thomaston Volunteer Fire Department, addressed the court about the grant-funded brush truck and water tank prior to the vote.
The court’s action authorizes the County Judge to work with the attorney firm Bickerstaff Delgado Heath and Acosta to develop the required agreement documenting DeWitt County as the lender and the volunteer department as the borrower, consistent with Chapter 381 authority for economic development agreements.
The court did not discuss repayment terms beyond the interest rate and maturity date noted in the motion. No amendments or alternate funding sources were specified in the minutes. Next steps identified by the court include finalizing the written promissory agreement and executing it through the County Judge’s office.
