At their regular meeting Monday morning, May 13, Murray County Commissioners were almost giddy about the excellent results from their surplus equipment auction last Saturday, May 11 at the Expo. The County raked in an estimated $112,000, and they sold everything at the auction.
Top dollar was paid for a dozer belonging to Darrell Hudson's District 3. It brought over $13,000 at the auction. A tractor brought a similar amount. Other items ranged from used chairs to animal pens to heavy equipment of all sorts.
"We did extremely well," commented Auctioneer Paul Aaron, who came to the meeting later.
At the meeting, BancFirst President Brian Hollis and Murray County Treasurer Judy Wells were present to discuss options for changing how county bank funds are handled. Hollis said changes are required due to the "financial crisis over the past four to five years" that has had impacts on the banking industry.
Regulatory changes, particularly affecting the Federal Deposit Insurance Corporation (FDIC), which insures deposits in most banks, have resulted in added costs to banks.
Hollis presented the Commissioners with an option for their deposited funds called "Sweep Account Services." This is five money market mutual fund options offered by the bank to customers.
These funds are not FDIC insured a fact that concerned the Commissioners.
Commissioner Billy Frank Lance zeroed in on the major concerns of the county when he said, "If it's secure, I'm all for it but it must be secure."
Commissioners asked for more information about this issue from the bank and the State Treasurer's office, which supports Sweep accounts for some banks.
Three out of the five Sweep accounts funds comply with Oklahoma State Statutes regarding investments of public funds, according to a handout from the bankers at the meeting.
If the County continues with the existing money handling, it will incur significant fees each month that could be as much as nearly $1,000. These have previously been waived, Hollis reported.
At the meeting Kim Little, executive director of the Murray County Industrial Authority, introduced J.J. Jones, who is temporarily appointed part time to the position of Oklahoma State University (OSU) Extension Educator for Murray County. Until recently this position was held by Carl Oblander. Jones is the area agriculture conservationist for OCU, and has offices in Ada.
Jones, who is from Roff, will be at the office near the Expo on Mondays and Thursdays while a new person is sought to fill the position.
Jones said they have "eight to ten applicants" now for the job, and it will be filled soon. Jones and Little added that they are looking for someone who will "be involved with the county and live here."
During the meeting, County Sheriff Darrel Richardson had nothing new to report, but informally discussed fixing a water line leak behind the sheriff's office.Amber Savage from U.S. Representative Tom Cole's office said there will be a Town Hall meeting in Ada on May 30 at noon at the Estep Center on the East Central University campus.