LAURINBURG — The Laurinburg City Council is now waiting for a $9.1 million loan to be completed next week, which may see construction following shortly after.
On Friday, council approved an amendment to it budget ordinance to create a capital project ordinance in order to document the money with the city’s Finance Departments.
The budget ordinance increases expenditures for contracted services by $153,742; capital outlay by $200,000; new construction by $8,526,924; miscellaneous reimbursement by $109,334; and the cost of issuance by $175,000.
“It is nothing more than an accounting process we must go through as stated by the statutes,” said Laurinburg City Manager Charles Nichols.
Friday’s meeting follows approval earlier this week by the Local Government Commission to allow the city to get a 15-year loan from BB&T bank.
BB&T is set to finalize the loan late next week so Ediface Inc., Laurinburg’s construction management firm, can begin work on the the 19,900-square-foot municipal building.
“We can’t start the project without the bank’s final approval on it,” said council member Dee Hammond.
The city did not provide specifics on whether the municipal project can be canceled after the acceptance of the low-interest loan.
It is unclear when the Barrett Building will be demolished and construction will start.
City officials plan to meet with Ediface next week to discuss the schedule, Nichols said.
In other business, council voted to allow council member Mary Jo Adams, who serves as mayor pro tem, to sign any documents pertaining to construction of the new City Hall.
Mayor Matthew Block, who did not attend Friday’s special meeting, has declined to sign any paperwork concerning the project. Block is opposed to the new municipal complex.
Council member Drew Williamson also asked Nichols to give an update on the city’s fund balance during the Oct. 17 meeting.
Council also asked the city manager to prepare an analysis of the city’s electric rates, tax rates, and financial overviews to “get the facts straight.”
Adams said that some residents are confused about the city’s tax rate compared to the county’s rate.
The October meeting will begin at 7 p.m. at Laurinburg’s municipal building at 303 West Church Street.
Reach Nolan Gilmour at 910-506-3171