Electric Board Approves Bid For Substation

HUNTINGDON (September 25) — The Carroll County Electric Board of Directors has approved a bid of $388,995 for a control house, which is part of the future construction of a new substation in the Leach Community. This amount is lower than the original estimate of $440,000.

Power Grid submitted the lowest bid of $2,503,000 for labor and materials for the Leach Substation project, which was approved earlier this year. Financing bonds for the project will be sold starting October 8 and will close on October 31. The bonds will be sold at an S&P rating of AA-.

Ryan Drewry, the general manager, stated that the new substation will better serve the increasing demand for electricity in the Lake Halford and southern Carroll County areas.

Drewry said the department is working with the Tennessee Department of Environment and Conservation on permitting for the site. TDEC has a few concerns about the site. Once approved, dirtwork is expected to begin in mid-November.

The Board also received notification of a “clean” financial audit for the last fiscal year, with no adverse findings reported by the auditors. The company experienced a net increase of $1.64 million in its financial position. The Board approved the audit findings and praised office manager Kelly Fields and the staff for their efforts on the financial reports.

Additionally, CCED has accepted delivery of a new digger derrick truck, a Terex unit. It was purchased to replace Trk#381, which is a 2013 model. The total bid for the new truck came to $418,250.83.Trk#381 now becomes a spare unit. The unit held as the spare, Trk#376 – a 2010 model is approved for sale. #376 and #381 are both Altec units. This replacement purchase falls in the normal range for scheduled replacement. Fleets vehicles used daily, are targeted for 11 years of service.

The link to the auction, October 23 to October 29, is https://www.jjkane.com/promotions/carroll-county-electric-department/

Board members include Chairman Lori Nolen, Chris Gurley, John Austin, Paul Moore, and Vickie Williams.

The next meeting is October 30 at 2:30 p.m. in the Carroll County Electric Department Board Room.

The new Digger Derrick is a Terex unit. It was purchased to replace Trk#381 which is a 2013 model. Trk#381 now becomes are spare unit. The unit held as our spare, Trk#376 – a 2010 model is the unit approved for sale. #376 and #381 are both Altec units. This replacement purchase falls in our normal range for scheduled replacement. Fleets vehicles used daily, we target 11 years of service as the replacement timing.

If you would like to share the link for the unit being sold, the truck will posted with auction going live on October 23 and closing October 29 at https://www.jjkane.com/promotions/carroll-county-electric-department/

It was a bucket truck that was damaged in the April storm and not Digger unit. The Bucket replacement arrived in May.

The Bond rating ended up being based on the County at AA-. S&P only shares the higher of the two (County or CCED) for the bond rating. We anticipated that the County may slightly have the edge over CCED.