Escambia County Bank in Flomaton was awarded the low bid of 1.92 percent on a $1,257,000 loan by the Escambia County Commission to purchase nine new dump trucks.
County Clerk-Administrator Tony Sanks told commissioners the loan is for a five-year period. Sanks also noted the county will sell nine used dump trucks at auction and the proceeds from the sale will go against the loan.
Sanks noted after the sale he expects the loan amount to drop to a little more than $600,000 which leaves the county with nine new dump trucks with 50 percent equity.
In other business Monday, the commission approved the purchase of a $250,000 bond from the city of Mobile with funds in the county's oil and gas severance tax trust fund. Sanks said the county will receive 2.659 percent on the bond which matures in February, 2023.
The commission also passed a resolution in support of Alabama Senate Bill 20, known as the Alabama Physician Initiative.
The bill provides for the securing of scholarship funds to allow students to attend medical school with the stipulation they work in the state of Alabama for five years upon graduation.
Commission Chairman Raymond Wiggins said he spoke with Dr. Will Baker, who is spearheading the effort to get the bill passed in hopes of encouraging more doctors to stay in Alabama, especially in rural areas. He said the bill is designed to encourage students to become doctors of osteopathy.
