Paris, Tenn. – Although it was business as usual, at the monthly meeting of the Paris Board of Public Utilities Board of Directors, the board took extra precautions and followed the CDC recommendations to help keep board members, employees and the media safe.
Meeting attendees were provided hand sanitizer upon entering the building, attendance was limited to less than 10 people by requesting BPU department managers not attend and seating for attendees was kept 6 feet apart.
During the meeting the Board voted to approve revisions made to the Revolving Loan Fund plan as well as approved a $335,000 loan to Columbiad Fabrication & Aviation, LLC from the BPU Revolving Loan Fund. Additionally, the Board reviewed the process to becoming a Municipal Utility Authority.
The Revolving Loan Fund is produced from grant money associated with two prior USDA Rural Development loans that has accumulated and is to be used locally to promote economic development.
The BPU board is the sole authority for approval or denial of loans and is responsible for all decisions and actions associated with the funds. The BPU board acts in accordance with an adopted Rural Development Plan, adopted in 2015. During the meeting, the Board voted to approve several changes to the plan, the most significant change allows for up to a 100% loan.
In addition to revisions to the Revolving Loan Fund Plan, the Board also voted to approve a $335,000 loan to Columbiad Fabrication & Aviation, LLC from the BPU Revolving Loan Fund. The loan is to have a 5-year repayment period at 1% interest provided Columbiad reaches and retains six new full-time employees. Columbiad, formed in Paris in 2016, is located at 1020 Hwy 69 North and is a metal fabrication shop capable of large scale cutting and formation.
The final item of new business was a review of the transition process for BPU to become a Municipal Utility Authority, a transition first introduced at the January meeting of the Board. Wimberley explained that further action would be taking place in April and May at both the BPU Board meetings as well as at the City Commission meetings with the end goal of becoming Paris Utility Authority on July 1, 2020.
“The formation of Paris Utility Authority will be a positive move for BPU and the City of Paris,” said Wimberley. “We will both realize efficiencies while continuing to offer high level service to this community. BPU will also have flexibility to explore ways to expand our benefit to the community through potential new markets and public-private partnerships.”
In general business, the Board voted to approve the prior months meetings and reviewed and approved the monthly financials presented by Terry Wimberley, BPU General Manager.
The April meeting of the Board will take place on Tuesday, April 28, 2020.
Photo: BPU General Manager Terry Wimberley, left, presenting reports to the board as Butch Powers (back to camera) and Michael Murphey listen. (BPU photo).