Vilvens signs with Mount St. Joseph SBAAC awards girls tennis all-stars Layman inducted into Miami University Athletic Hall of Fame SBAAC hands out awards to First Team girls’ soccer all-stars John D Marks Fourteen indicted by Brown County Grand Jury Commissioners donate to task force Voters return Worley to the bench Georgetown Police Department welcomes new officers Ruby A Ratliff Donna J Moore Stella M Glasscock Ellen L Gelter Alverda T Guillermin Justin N Beach EHS dedicates ‘Kiser Court’ SBAAC awards First Team football all-stars, winning teams Sizer earns SBAAC American Division Volleyball Player of Year honors for 3rd straight year Broncos to host Blue Jays for OHSAA ‘Jimmy Young’ Foundation Game, Nov. 17 Vern W Kidd Jr Brown County Election Results – 2017 Michael D Hines Raymond W Napier Leslie E Boyle Gary L Barber Meth makes a comeback The bomber crash of 1944 4-H holds ‘shootout’ with BCSO County jobless rate falls Russell K Wolfer SHAC recognizes volleyball all-stars SHAC cross country all-stars take home awards Eastern girls finish runner-up in SHAC golf standings Week 10 football roundup Kathleen J Bright Sister Marjean Clement Veterans Service Office Moves G’town FFA has great fair Bald Eagles spotted 2017 Celebration of Lights being planned Eight indicted by grand jury Carlos L Beck Georgetown XC teams qualify for regional championship meet Warriors advance to Div. II Regional Meet Lady Rockets reach end to successful volleyball season Week nine football roundup Lady Warriors regional bound Amy J Caudill Bertha Lindsey Bobby S Conley Body found in ditch, investigation underway Former Aberdeen Fiscal Officer pleads guilty Keeping kids safe on the school bus Mary E Hahn Gary R Cornette Week 8 football roundup Notable soccer season reaches end for G-Men Lady Broncos are SBAAC American Division XC champs SHAC XC title goes to Lady Warriors Arthur Smith Eugene M Jennings Jr Billy R Kilgore Sr Carol D Roberts Thelma L Gray Sheriff Ellis meets President Trump Quarter Auction to pay for fire engine restoration Upcoming Quarter Raffle, Oct. 14 to benefit PRC Man found dead in ditch Rev Alvin B Woodruff Jackson L Russell Lady Broncos bring home 11th SBAAC American Division title in 12 years Lady Rockets wrap up regular season Warriors rally for win Broncos make it two in a row Helen L Whalen Veterans saluted at the Brown County Fair Fayetteville cancels school after threat Tommy J Stamper Sue Day Broncos move closer to SBAAC American Division title Lady G-Men working hard, showing improvement Sports complex soon to open in Mt. Orab Week 6 football roundup H Ray Warnock Jennings faces multiple sex offenses Georgetown nears water system completion Bible Baptist Barbeque brings big crowd Linda Taylor Rene Sizemore-Dahlheimer Eugene Snider Eric Workman Gregory Terry Edith M Moore Eileen Womacks Michael C Jennings Janice K Brunner Cheer squads compete at ‘Little State Fair’ Truck, tractor pulls draw a crowd at Brown County Fair Week 5 football roundup Lady Broncos rise to 11-6 with win over Batavia

The Brown County Commissioners paid off a substantial loan worth more than $726,000 to First State Bank

GEORGETOWN — In one fell swoop, the Brown County Commissioners wiped out about one-third of the county’s debt.

Thanks to money earned in a property sale of the site of a future automall in Mt. Orab, the Brown County Commissioners were able to pay down the remainder interest and principal remaining on a $750,000 loan from First State Bank taken out in 2009. The commissioners presented a check to First State Bank’s Mt. Orab manager Vince Roades worth $726,742.98.

“You better believe it,” Commissioner Daryll Gray said in response to a question if this was a big day for the county. “We’ve got two more (big loans) and if we pay those off we would be in good shape.”

According to Commissioner Barry Woodruff, the original loan was secured in order to pay for a new roof on the Brown County administration building, which houses the Brown County Board of Elections, treasurer, auditor, commissioners, and more, as well as to pay for the construction of the building that houses the Brown County Prosecutor’s office and the Brown County Juvenile/Probate court.

Since acquiring the original $750,000 loan in 2009, the commissioners had been paying on interest twice a year, about $13,000 per payment. Earlier this year, the commissioners paid down $25,000 of the principal, and after acquiring $616,579 from the property sale in Mt. Orab, they were able to pay down the rest of the owed principal and interest on the loan.

The Mt. Orab Port Authority sold the property, where Mark Williams is now in the construction phase of two 18,000 square foot car dealerships on a nearly 30-acre piece of property along State Route 32. Williams is planning on moving Mt. Orab Ford to that location as well as Peebles Chrysler Dodge Jeep Ram. There’s also the potential to build three more dealerships on the site, as well as a restaurant and a hotel.

The Brown County Commissioners paid off a loan from First State Bank with money acquired in the Mt. Orab automall property sale. Shown, from left to right, are Commissioners Tony Applegate and Daryll Gray, First State Bank’s Vince Roades, and Commissioner Barry Woodruff.
http://newsdemocrat.com/wp-content/uploads/2015/09/web1_LoanPayment-DanielKarell-.jpgThe Brown County Commissioners paid off a loan from First State Bank with money acquired in the Mt. Orab automall property sale. Shown, from left to right, are Commissioners Tony Applegate and Daryll Gray, First State Bank’s Vince Roades, and Commissioner Barry Woodruff.
Automall sale helps pay off 1/3 of county debt

By Daniel Karell

dkarell@civitasmedia.com

Reach Daniel Karell at 937-378-6161. Follow him on Twitter @GNDKarell

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