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' 033 <br />LEE <br />COUNTY <br />Committed <br />Today for a Better Tomorrow <br />LEE COUNTY BOARD OF COMMISSIONERS <br />ITEM ABSTRACT <br />Meeting Date: March 17, 2008 <br />ITEM NO. IV. J. <br />Information <br />Action Item <br />XX Consent Agenda <br />SUBJECT: Low Interest Loan for Lemon Springs Fire Department <br />AGENCY/BUSINESS: Lemon Springs Fire Department <br />CONTACT PERSON: Reid Cagle, Fire Chief <br />REQUEST: Approve Low Interest Loan with BB&T for Lemon Springs Fire <br />Department <br />SUMMARY: The Lemon Springs Fire Department held a public hearing on <br />February 11, 2008, in reference to securing a low interest loan for <br />the construction of a sub-station on Pine Forest Road. The fire <br />department is asking approval to enter into a 20-year low interest <br />loan with BB&T to construct a new sub station. The interest rate will <br />not exceed 6%. <br />BUDGET IMPACT: N/A <br />ATTACHMENT(S): 1. Resolution adopted by Lemon Springs Fire Department on <br />January 9, 2008, and <br />2. Minutes from February 11, 2008 public hearing <br />PUBLIC HEARING: Conducted by Lemon Springs Fire Department on February 11, <br />2008 <br />PRIOR BOARD ACTION: N/A <br />RECOMMENDATION: Approve request from Lemon Springs Fire Department to enter into <br />agreement with BB&T for low interest loan in the amount of <br />$300,000. <br />