Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
Page 11 · column 2 of 6 · from the scan, no model involved
two fire companies, but it would earn an 11 percent return, a higher rate than available through the county’s CDs, according to Mr. Cox. “It’s a decent investment,” he said, adding that the fire companies would then repay the county.
The notes are being offered for sale at a discount. For example, he said, the price of Sperryville’s $13,000 note would be $11,498. To hold the “paper” back from the September auction, five percent of the discounted value must be paid to the Farmers Home Administration office by this Friday, Mr. Cox reported. If the board chooses later not to pursue the purchase, that money can be applied towards the fire department’s repayment schedule, he added. “But I would recommend it. If you don’t buy it, somebody else will.”
Chairman Hubert Gilkey said he would contact the Sperryville Fire Department and learning of the situation at a budget work session later Monday night, Frankie Huff volunteered to contact the Washington Fire Department.
With the board endorsing by consensus the purchase of the notes, administrative assistant John McCarthy noted that the checks covering the five percent deposit could be approved at Thursday’s special meeting and delivered to the Farmers Home Administration office by Friday’s deadline.
96.3%