In order to take some of the pressure off of the County budget for 2020, the County Commission asked Peoples Savings Bank (PSB) to extend their loan for the courthouse roof repair project by a year according to Executive VIce President and Chief Loan Officer Todd Witthaus.
The $488,000 loan was initiated with PSB in Sept. 2017. The current balance on the note is $292,962.66. With a 4 year amortization schedule, this amounts to a principal quarterly payment of $18,310 with an additional two percent interest.
Gasconade County Clerk Lesa Lietzow says the loan will now expire at the end of 2023, but will save $27,000 annually.