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Select Board approves tax-anticipation loan, dispatch contract and reappoints town representative to fiber CUD
Summary
The Morristown Select Board approved a tax-anticipation loan with a reinvestment option, a dispatch services agreement with the county sheriff for $168,822, reappointed Jane Campbell to the local communications union district, approved a private-road name and authorized a PVCA funds transfer after exiting executive session.
The Town of Morristown Select Board unanimously approved several financial and administrative items at its meeting, including a tax-anticipation loan with a reinvestment option, a dispatch contract with the county sheriff, appointment to the local communications union district and a private road name.
On the town’s annual tax-anticipation financing, staff presented two options from Union Bank: a tax-anticipation loan with reinvestment that the town would fund into a high-yield account (staff estimated an income benefit of about $75,000 for the year), or a line of credit costing roughly $6,000 annually. The board approved option one — described at the meeting with a loan rate of 3.8% and a reinvestment rate of 3.35% for FY2026–27. The loan amount as read aloud in the meeting transcript was recorded as "2,32450"; staff will provide the precise loan figure in the signed loan documents and the town’s fiscal records.
The board also approved the dispatch services agreement with the Loyal County Sheriff's Department for $168,822 for fiscal year 2026–27. Staff said the county appears to subsidize municipal dispatch services across neighboring towns; the contract amount increased by $2,900 over the prior year and the board approved it by unanimous vote.
Jane Campbell described the recent completion of the local fiber network project in partnership with the service provider (noted as Fidium in the meeting), reported the project came in under budget and requested reappointment as Morristown’s representative to the communications union district (CUD). The board amended the form to correct a listed representative name and unanimously reappointed Jane Campbell.
The board also approved naming a private access/right-of-way "Christina Lane" for 911 purposes, authorized the vice chair to sign the application, approved the warrants and, after a brief executive session on probable litigation, unanimously authorized an electronic transfer of PVCA funds from Union Bank to an Edward Jones account.
