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City awards $9.6 million loan bid for water system


Posted by: tdt -

By JOE WARREN

The Dalhart City Council voted to approve a bid from Texas Independent Banks (TIB) for a $9.6 million loan to the city to build a new water system consisting of four wells and a pump station on the south side of town.

Local banks are able to buy a portion of the loan and during the meeting, Vince Viaille, Managing Director with Specialized Public Finance Inc. said that First National Bank in Dalhart was among local banks that will work with TIB on purchasing some of the note. First State Bank in Dalhart is also purchasing some of the note, according to George Odom, president of the local branch.

“I believe there are also some other area banks getting involved as well, because Dalhart is very solid. They have a very good history of doing business.”

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