The Town of Selma has awarded a bid to KS Bank to finance the purchase of a new bucket truck for the electric department.
KS Bank provided the lowest interest rate of 2.64 percent. BB&T submitted a bid of 3.19
percent. First Citizens Bank declined to bid because the total purchase price was less than $250,000.
The Town of Selma will make five yearly loan payments of $23,773.98 to KS Bank for the truck.
Town Manager Elton Daniels recommended the council select KS Bank for the loan, which was unanimously approved by the council.
