KIMBALL, Tenn. — Construction on a sewer line to Marion County's new career and technical center along U.S. Highway 41 is about to begin, but Kimball's loan money to pay for it hasn't been released yet.
The sewer line will extend from Industrial Boulevard and underneath Interstate 24 to the new school's site.
Mayor David Jackson said the plan for funding the project was to obtain a no-interest loan through the U.S. Department of Agriculture's Rural Development office.
Officials confirmed Kimball's paperwork for the loan has been completed and received.
"We've still not heard anything, and we've made two payments so far on this project," Jackson said.
If necessary, Jackson said, the city can borrow the needed funds from a local financial institution and use the money it expects to get through Rural Development to pay that back.
Alderman Mark Payne said if Kimball has to borrow the money elsewhere, it will certainly incur some interest.
Jackson estimated the city will need up to $450,000 to fund the sewer line extension fully.
Even though officials don't expect to need the money before the Kimball Board of Mayor and Aldermen's next meeting on Feb. 6, the board voted unanimously last week to allow Jackson to send out requests for proposals to local banks and to borrow up to $500,000 if a payment is required during that time.
City Attorney Billy Gouger said the loan proposal requests will include a stipulation that whatever interest rate is offered by the banks must remain valid through the board's next meeting.
"We just want to keep all of our bases covered," Jackson said.
Ryan Lewis is based in Marion County. Contact him at ryan email@example.com.
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