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Board selects Bank of Thermopolis to provide interim financing for airport hangar
Summary
Commissioners chose the Bank of Thermopolis for interim construction financing of a new airport hangar and approved related WYDOT/FAA reimbursements and NAVAID maintenance requests.
The Hot Springs County Board of Commissioners on April 7 voted to use the Bank of Thermopolis as the interim lender for construction-phase financing of a new airport hangar, after Big Horn Federal declined and the Bank of Thermopolis offered the lowest interest rate and no origination fee.
Commissioner Tom Ryan said he had consulted local banks and reported that Bank of Thermopolis’ parent, Bridger Bank, has prior experience with similar projects and the bond attorney used by the county. Commissioner Paul Galovich noted the lack of an origination fee was a benefit for the community. The motion to select the Bank of Thermopolis carried unanimously.
Separately, the board approved Airport County Hangar RFR #6 (engineering) totaling $10,928.75 (FAA reimburses $9,835.87; WYDOT reimburses $655.73; county pays $437.15) and an Airport 2025 NAVAID maintenance reimbursement request totaling $5,943.00 (WYDOT reimburses $4,754.00; county pays $1,189.00). These approvals allow the county to pursue reimbursement for aviation-related engineering and maintenance work.
