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Gallipolis approves invoices, selects Ohio Valley Bank loan for paving
Summary
The commission approved four invoices exceeding $3,000 and accepted Ohio Valley Bank's offer for a $400,000 five‑year loan at 5.64% to fund street paving; the motion directs the city to proceed with bond counsel to finalize the financing.
City Auditor Shelly Clonch presented four invoices above $3,000 — Boyd Company ($4,235.21), Henschen & Associates ($3,000.00), Ohio Bureau of Workers' Compensation ($5,050.23), and Saunders Contracting ($12,625.00) — and the commission unanimously approved payment on a motion by Commissioner Michael D. Carter.
Clonch also reported proposals from local banks for a $400,000, five‑year loan to finance street paving. Ohio Valley Bank offered an interest rate of 5.64% and WesBanco offered 6.16%. Commissioner Carter moved to accept Ohio Valley Bank's proposal and to proceed with bond counsel; the motion passed on a unanimous voice vote.
Clonch said the city will continue to pursue grant funding (OPWC) for future paving but is moving forward with a loan to complete work this year.
