A press release from Grafton Township Supervisor Linda Moore:
Grafton Township Supervisor Announces Repayment of Loan
Grafton Township Supervisor Linda Moore announced today that she had negotiated a repayment arrangement with Harris Bank that provided for early repayment of $400,000 on the loan previously secured to pay for the now abandoned project to build a new town hall.
Supervisor Moore said,
“I am very pleased that Harris Bank has worked with us to provide a partial payment of a substantial indebtedness which we have incurred.
“This agreement will save Grafton Township taxpayers about $235,000 over the course of the loan. I have consistently fought for the Grafton Township taxpayers who elected me to watch out for their tax dollars.
“This is a victory for all sides of Grafton Township.”
Moore went on to say that there are certain bank requirements for repayment. She has had her differences with the board but she was sure that they would cooperate to save the taxpayers this large sum of money.
Moore went on to thank Highway Commissioner Jack Freund for his cooperation in the matter and Moore said,
“I look forward to the re-negotiation of a much more favorable lease with the Highway Commissioner, since his interest cost in the loan had been reduced.”
Moore said that there is a May 31 deadline for the payment.