The village of Archbold will receive money from the Permissive Motor Vehicle Tax fund to help pay for a road construction project.
The Fulton County Commissioners approved the request Oct.13. The money, $20,140, comes from a county tax on motor vehicle registrations.
The project is for improvement to Pleasant, Wilson and West Beech streets. The bid for $987,680 was awarded to PHC, Inc. The work is to be completed by Oct. 29.
Railroad told to remove obstruction to drain
Ballast material for a train bed owned by Norfolk Southern Railroad has slid down an embankment causing a blockage and leading to localized flooding.
As a result, the Fulton County board has given the railroad 30 days from Oct. 13 to remove the blockage or pay for the county to do it. The blockage is in the outlet tile of the open ditch known as Clinton-Henry No. 5 in the railroad’s right of way.
The cost of removal and a 50 percent fine will be place on the railroad’s taxes if not taken care of by the deadline.
County investments reviewed
The Fulton County Board received an update Oct. 11 on the county’s investments. Scott Gruber of Meeder Investments told the board the economy is not growing that fast and with China’s GDP slowing, there are fears of a global slowdown.
Oil is mixed and is causing some turmoil. Oil has been in the $40 to $60 a barrel range since January 2015. A rise in oil prices and GDP plus continued dips in the unemployment rate could spark a rise in interest rates, Gruber said.
The Federal Reserve is expected to raise interest rates again in December, Gruber said.
Ohio’s unemployment rate is 4.7 percent, while the national rate is 5 percent.
The labor force participation rate has been steady at 62.8 percent. The rate peaked in the late 1990s at nearly 67 percent, but fell sharply from 2008-2014.
The county has earned about $60,000 in interest income. This gets deposited for use Lee said.
Courthouse gets insurance coverage
It may be the most expensive option, but if something horrible happens to the Fulton County Courthouse, it will be rebuilt to look exactly like it is now.
The Board of County Commissioners opted to pay for insurance for a complete reproduction of the courthouse in the event of irreparable damage. The logic behind the decision is if there was a loss, the courthouse would be rebuilt with the exact materials as possible and the historical workmanship and practices are used in reconstruction.
The courthouse has been appraised at $7.8 million. To reproduce the building, it is estimated to cost $15.2 million for 93 percent coverage. The county will pay a little more than $5,000 for additional coverage.
In other news:
The commissioners approved payment to Thomas Construction and Remodeling LLC for work on the Detwiler Manor Restoration project.
The payment comes to $45,288.75.
The work involved masonry and other improvements to get the building weatherproofed.
County Treasurer Char Lee informed the commissioners she has completed training through the state in commercial paper purchasing and will be able to do this for the county in the future.
James Pruitt may be reached at publisher@thevillagereporter.com