The News & Record
South Boston News & Record
and Mecklenburg Sun
Home   •   News   •   Sports   •   Classifieds   •   Community   •   Health   •   Entertainment   •   Obituaries   •   Opinions   •   Weather
Advertising | Contact | Register
Advanced Search
News

Wayward bear causes accident

Bob Cage, renowned artist, athlete and tobacconist, dies

Robert F. "Bob" Cage, a Halifax native, was known for his achievements in an array of fields that he pursued with customary passion.

Latest effort to oust Thornton fails

The superintendent lost the support of a longtime backer, board chairman Robert Puryear

Sports

Comets prove cynics wrong

There might have been some cynics wondering about the direction of the Halifax County High School varsity boys’ basketball team before last winter.

Community


Opinion


A&E

News

Clarksville Council looks at refinancing, debt options

SoVaNow.com / September 11, 2013
Clarksville Town Council is looking into hiring Davenport & Company, a financial advisory and underwriting firm, to perform a comprehensive financial review of the town’s revenue and debt structure, and to find refinancing opportunities for the town’s outstanding loans.

David Rose, Senior Vice President and co-head of Public Finance, talked to Town Council members last week about the services his company can provide, including a comprehensive financial review, refinancing opportunities for existing debt, and analyzing debt capacity and affordability for the town.

Davenport also can help Clarksville generate a series of financial policies and guidelines aimed at providing long-term financial stability, Rose said. He added the policies and guidelines would serve as a model for ways to responsibly incur debt over a five-year and 10-year period.

As part of his preparation for the meeting with Council last Tuesday, Rose said he and Mason McLean, a Davenport analyst, reviewed 15 outstanding Clarksville loans. They concluded, from their brief review that at least four of the loans could be refinanced to obtain a significantly lower interest rate.

Rose’s fee for providing the comprehensive financial review would not exceed $7,500, at a rate of at $250 per hour. He also promised to complete the review within 45-60 days. “We can have the town in a position, by November or December, to know where it stands financially,” said Rose.

Locally, both Mecklenburg County and the town of Boydton have used the services of Davenport & Company to issue or restructure debt.

In other business, Council announced that it is looking to fill vacancies on both the planning commission and the IDA. During the discussion, Council member Glenn Jurczyk asked Council to consider instituting a requirement that all members of the planning commission or the zoning board take a class to familiarize themselves with the building codes and other applicable laws.

Anyone interested in serving on any town board or commission should contact Town Manager Jeff Jones at 434-374-8177.

Tell-a-Friend | Submit a Comment

484

Advertising Flyer

Find out how you can reach more customers by advertising with The News & Record and The Mecklenburg Sun -- in print and online.