Valier staff flags $60,801.54 payoff discrepancy on fire engine loan
Treasury staff told trustees a prior payoff figure from FREDCO did not match actual obligations; the village refinanced the amount it was given with the State Bank of Whittington and will consult the village attorney and USDA to determine whether it must account for the $60,801.54 difference this fiscal year.
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During the Oct. 27 executive session, staff member Chris Scroggins told trustees the village’s paperwork shows a $60,801.54 figure connected to a prior loan from FREDCO for a fire engine but that FREDCO did not supply the correct payoff amount before it dissolved.
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