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News Town of Franklin to refinance loans

Judith Hughes, Regent, Battle of Sugartown Chapter, Daughters of the American Revolution made a request of Mayor Joe Collins and the Franklin Town Board of Aldermen that Sept. 17-23 be declared Constitution Week in Franklin. The board unanimously approved the request, and Mayor Collins signed the proclamation. This week celebrates the 225th anniversary of the drafting of the Constittution of the United States of America by the Constitutional Convention in 1787.Mayor signs proclamation for Constitution Week.

The Town of Franklin Board of Aldermen officially declared the week of Sept. 17-23 as Constitution Week in Franklin during its September meeting.

At the request of Franklin resident Judith Hughes, the board unanimously voted to allow Mayor Joe Collins to sign the proclamation which celebrates the anniversary of the drafting of the Constitution of the United States of America by the Constitutional Convention.

The proclamation states that, “It is fitting and proper to accord official recognition to this magnificent document and its memorable anniversary and to the patriotic celebrations which will commemorate the occasion and whereas, Public Law 915 guarantees the issuing of a proclamation each year by the President of the United States of America designating September 17-23, as Constitution Week.”

By proclaiming Constitution Week, it is the hope of Franklin leaders that citizens will use the week as an opportunity to reaffirm the ideals the framers of the Constitution had in mind in 1787 by vigilantly protecting the freedoms in the document. During the week, schools will hold special programs and lessons to teach new generations of the Constitution and its precepts.

Refinancing

The board voted to approve the refinancing of Town loans in the amount of $4,350,000 by SunTrust Equipment Finance & Leasing Corp. According to Town Manager Sam Greenwood, refinancing the town's loan will save taxpayers $360,000 over the term of the leasing contract.

The refinancing agreement now allows the town to manage the loan over a 12-year term at an interest rate of 2.8 percent. “I’m recommending to the board we go with the 2.8 percent rate with SunTrust and that would be for the remainder of the term which is 12 years,” said Greenwood.

Alderman Sissy Pattillo cited the savings of $360,000 over 12 years as being reason enough to refinance the loan.

Other business

The board unanimously voted to reappoint Pat Pattillo to the Alcohol Beverage Control Board of Directors, as recommended by the ABC Board.

“As you know, the term of Pat Pattillo will expire in August,” wrote ABC Store Manager Todd Mason. “With the increasing demands from state and local governing boards, much time, dedication and work is put into the position. With this letter, the ABC Board of Directors unanimously and respectively request the reappointment of Mr. Pattillo to the board.”

Alderman Bob Scott spoke to the board about several outdated and ineffective nuisance and related ordinances for Franklin. Scott, who invited Franklin Police Chief David Adams to speak on the matter at the meeting, noted that ordinances such as grass maintenance, noise and junk cars are either non-existent or have no enforcement penalties.

With agreement from the board, Mayor Joe Collins suggested that Scott head a committee with Alderman Joyce Handley, Town Planner Derek Roland and Chief Adams to evaluate the ordinance and bring them up to speed with current laws.

The Board heard requests from non-profits operating in Franklin for grants from the town's funding pool. “Typically the town sets aside funding each fiscal year to be used by the non-profits in Franklin,” said Mayor Collins. “This year we had 10 applicants request funds. The general criteria to be eligible for the funds says that we like for the money to be used for things that are going to keep the money here in Franklin or that comes back to the community.”

Applicants, which included Franklin's Garden Club, the Arts Council, CareNet, Highlands-Cashiers Hospital, Franklin Clinic, Angel Medical Center's medication assistance program, REACH, Habitat for Humanity, the Historical Society, and the Fontana Regional Library, were able to pitch to the board why they needed the funding and how it would be spent in Franklin.

The board voted to continue the meeting until Sept. 25 to allow the board time to consider each request. During the meeting, which is scheduled to begin at 5:30 p.m., the board will vote on each request and allocate funds accordingly.





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published: 10/18/2013
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