BUSINESSES PAID BACK FOR COLLATERAL

SCOTT CITY -- Seven businesses that contributed money to help fund construction of water and sewer lines to the Nash Road industrial park in Scott City were paid back Monday.

The seven businesses, all located in the industrial park, put up $120,000 in collateral last year so that the city could provide part of the funding for the project, which was completed in the fall.

The city received a $203,500 grant from the Missouri Department of Natural Resources for the project, but had to come up with $180,000 in collateral, of which the city provided $60,000.

Mayor Shirley Young said without the contributions of the businesses, the project would not have been able to be completed.

The business owners were honored Monday at city hall. They include: Jim Vangilder of Havco Wood Products, David Jordan of Industrial Fuels and Resources, Vincent Licare of Midwest Diesel, Gene Rhodes of Rhodes Oil Company, Dan Richardson of Richardson Tire, Bill and Linda Pratt of Midwest Truck Sales and Lillian Joiner of Solar Pools and Spas.

The owners were paid back their original contributions plus 6.17 percent interest. Contributing $23,076 each as collateral were Industrial Fuels, Havco Wood Products, Midwest Diesel and Rhodes; contributing $9,230 were Solar Pools, Richardson Tire and Midwest Truck Sales.