The Gallatin Board of Alderman has approved paperwork that allows the city to borrow money and proceed with financing street improvements.
An ordinance allows Gallatin to enter a lease-purchase agreement for improvements to selected streets and roads. The agreement is with Farmer’s Bank and Trust in the principal amount of $508,000 with a loan term of four and a half years. The interest rate is just under three point seven four percent. (3.739%)
Representatives of DA Davidson met in a special session recently with the Gallatin aldermen and presented the grant match funding option for the street project.
