At the Walterboro City Council meeting on Tuesday Oct. 6, City Manager Jeff Molinari looked for approval of bids to finance the purchase of a 2020 Freightliner sanitation truck for $236,143.50.
The finance department solicited proposals from seven local financial institutions to finance the purchase of the truck and received three proposals: South State Bank with a term of five years at 1.43 percent APR and no fees; BB&T with a term of five years at 1.67 percent APR with no fees; and REV Federal Credit Union (formerly Heritage Trust) with a five-year term at 3% APR and a $250 fee.
Molinari recommended South State Bank finance the purchase of the sanitation truck at a cost of $236,143.50 with an interest rate of 1.43%.
City Council members next considered a proposal from Hybrid Engineering for engineering, design and construction observation services for the Black Street/Sub-Basin 12 Sewer Upgrade Project.
The city received a CDBG grant in the amount of $1,348,758 to rehabilitate sewer lines in the Black Street area. The rehab project will ensure reliable and improved sewer service by replacing or relining over 40-year-old sewer mains, services and manholes that are failing. This will provide better sewer service for citizens for many years to come.
Hybrid Engineering provided a proposal for design contract administration and construction observation services for $153,490. The cost will be used as part of the city’s required 10-percent match for the project. The expenditure will be paid from a revenue bond that will be issued during the first quarter of 2021. There is sufficient capacity in the Enterprise Fund to absorb and expenditures incurred prior to the issuance of the bond.
The total cost for this project is $1,452,247.