The Joplin Globe, Joplin, MO

Local News

July 30, 2013

Jasper County Commission looks for new financing

CARTHAGE, Mo. — Jasper County is going back to the drawing board — at least partly — on efforts to finance part of the costs of two county building projects.

County commissioners on Tuesday authorized Norman Rouse, attorney for the panel, to enter into negotiations with Southwest Missouri Bank, after an earlier proposal from Arvest Bank was withdrawn. The bank has proposed  to finance $322,500 to pay just over  half of county costs to remodel a former bank building for as sheriff’s department headquarters and to construct a new vehicle maintenance building on property used by the county road department. Costs are to be repaid by the county’s law enforcement trust fund over a four-year period.

The financing was to come via a lease purchase arrangement which bank officials learned, once paperwork started, Arvest was not able to complete.

“We were dealing with local officers, but the bank is chartered in Arkansas and once they started working on it, they found state law there does not allow that kind of financing, so they had to withdraw,” Rouse said.

Commissioners directed Rouse to begin talks with Southwest Missouri Bank, which had proposed the next lowest interest rate.

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