ETNA GREEN - The first reading of the 2009 Etna Green town budget was Tuesday during the town council meeting.
The council's second reading of the budget will be Oct. 14 at 7 p.m. in the town hall. The town's 2008 net assessed value is estimated at $14 million, while the 2009 net assessed value is approximately $11.4 million.
Clerk Treasurer Laura Baker reported the town's 2008 budget was approved.
The council approved an ordinance replacing money taken from the Economic Development Income Tax fund with money from the riverboat fund. The money was taken in July to purchase a utility cart.
National City Bank informed Treasurer Laura Baker that they must now be charged to maintain an account with the bank.
National City had charged the town a total of $788.19 in its account. The council discussed changing the account to a business account for a fee of $175 a year with an interest rate of 1.88 percent.
After investigating local options, the council discussed banking with First State Bank of Bourbon. Council President Todd Slabaugh stated that with First State Bank, the town will incur no fees to maintain an account and will receive an interest rate of 2.38 percent.
The council approved a motion to transfer their account to First State Bank of Bourbon in order to avoid the fees with National City Bank, as well as easier access to proofs of checks.
Town attorney Jay Rigdon requested a letter to be drafted to notify National City of the reasons for the town's withdrawal from the bank.
Town employee Andy Cook presented the council with three different quotes for a medium duty truck bed for the truck purchased in November 2007. The council approved the purchase of a truck bed from Hoosier Truck and Trailer Equipment.
The Marshall County Junior Football League will hold a ribbon cutting/dedication ceremony Saturday at 11 a.m. with their first game kicking off at noon. The ribbon cutting and first game will be at the new field in Heritage Park.
