SMETHPORT — The McKean County Commissioners voted unanimously Tuesday to accept a quote from Juniata Valley Bank in Port Allegany for a tax anticipation note (TAN) at an interest rate of 1.24 percent.
Because the county faces a negative cash flow annually in January and February since the revenue from the upcoming year’s real property assessments are not yet payable, the commissioners agreed to secure a TAN in an amount not to exceed $3.5 million to be repaid within the first six months of 2017.
The Local Government Unit Debt Act, which recognizes this is a yearly occurrence, spells out the procedures for securing a TAN.
Two other banks submitted bids: Northwest, 1.59 percent; and County National Bank, 2.463 percent.
In other matters, the commissioners adopted a resolution authorizing the county to enter an intergovernmental agreement with the McKean County Redevelopment and Housing Authority for providing information technology services to their office.
The county has been providing the service for some years since the redevelopment and housing authority has no IT staff. It amounts to about ten hours a month. “This is a good example of governmental cooperation,” said Commissioner Cliff Lane.
The commissioners also approved the non-union insurance plan, which is described by the Internal Revenue Service as a high deductible plan, and designed to be used with a Health Savings Account. It is offered through Highmark Blue Cross Blue Shield.
Four invoices were approved for liquid fuels fund projects, three of which were completed in 2016: They were Annin Township, $5,371; Corydon Township, $1,174; and Lafayette Township, $5,149. The amount of $10,564 to Smethport Borough represents payment for projects completed in 2014 and 2016.
Also gaining the OK for payment were invoices for $6,250 to the Office of Human Services, which is a portion of that agency’s budget allotment for the period ending Sept. 30, and $211,033, to the Area Transportation Authority (ATA), which is the second quarter advance payment for the Medical Assistance Transportation Program for fiscal year 2016-17, which the authority administers for the county.
The commissioners also approved a county aid application for $2,568 for Norwich Township’s tar and chipping project on township routes T-362 and T-375 at an estimated cost of $42,505.60.
Three real estate tax refunds were approved for the 2016 tax year after successful assessment appeals. These were Stephen and Barbara Stidd, $1,052.20; Kane Area Industrial Development Corporation, $2,863.07; and Gary Howard, $154.74.
One of the three real estate tax exemptions for 2017 approved by the commissioners went to Kane Borough for .17 acres of land and a house at 526 Biddle St.
Two were for the Buckeye Community Hope for .85 acres of land and building at 65 Lincoln Ave. in Bradford, and a similar parcel of land and buildings at 79 Lincoln Ave. in Bradford. Both are for affordable housing for the county’s low income citizens.
Among the approved service provider agreements were an resource family contract with Curt and Renee McClain, Eldred; and an HSDF contract with the Area Agency on Aging, Ridgway. Other agreements for Jene Gardner of Allegany, N.Y., and Avanco International Inc. of Fairfax, Va.., also gained positive votes
A purchase of service agreement was also approved for Central Counties Youth Center in Bellefonte.
