Monday, October 05, 2009

October 5, 2009 City Looking to Bones Seivers with Tennessee Municipal League Bond Fund for Help with Debt

In addition to the KIA building/community center that received little support and TDEC's potential fines of $175,000/$15M of sewer corrections, another item that came up at the October 1 Morristown Finance Committee meeting was debt.

I arrived a little after the 3:30 start time for the meeting and missed the first part of the presentation, but apparently Charles "Bones" Seivers of the Tennessee Municipal Bond League Fund (TMLBF) is putting together a loan package of around $7.8 million dollars for the City. Councilmembers said the figure could go up or down.

Several councilmembers commented that Bones was full of energy and spoke/delivered his presentation with the passion of a preacher.

For a couple of fairly recent statewide articles on Bones Seivers, click here and here. Or just "google" Charles "Bones" Seivers. 

There is also an article here that states that Bones' TMLBF overcharged some cities for fees that were not due. According to the article, one of the cities that was overcharged was Morristown. The article names two other cities that were overcharged: (1) Nashville and (2) Murfreesboro, former Morristown City Administrator Jim Crumley's new employer!.

It's a small world.

1 comment:

Steve said...

This guy should be in Jail!

Debt Help TN