The Letcher County Fiscal Court took the second and final step in securing a loan to stabilize the Letcher Fire Department at a special meeting called last Wednesday.
The court voted unanimously to approve a lease to finance a project. The lease, for $324,000, will be administered through the Kentucky Association of Counties, a non-governmental agency that represents counties in legislative matters and offers a variety of services, including low-interest loans and help with bond issues. The lease will be funded by a bank or financing corporation until it can be placed in a bond pool.
A public hearing concerning the approval of the lease was held just before the meeting was convened, but there was no comment and the hearing was adjourned. Letcher County Treasurer Doris Jean Frazier told the audience that Kentucky law required the court to conduct a hearing before entering into the lease.
The court also accepted the sheriff ’s 2018 Unmined Coal Settlement. Deputy Lashawna Frazier presented the report of the settlement in the absence of Sheriff Shawn M. “Mickey” Stines. An Independent Accountants Compilation Report prepared by Whitesburg Accountant Dennis Wayne Fleming accompanied the report.
The total for credits due was $105,071, less a commission of $3,872. The balance due was $101,200. Frazier told the court this represents a collection of about 85 percent. She said as of last Wednesday, Pike-Letcher Coal had not paid its bill.