Cairo Gets Notice From Bank
By: Ryan Tate
CAIRO, IL --Most people have gotten a notice of some kind from a bank or creditor concerning payment of bills. The City of Cairo can join that list.
In a letter obtained by Heartland News, Bank President Jay Manus of First National Bank of Cairo states the city is "is now in payment default," "146 days past due on a loan" and "87 days past due on another loan." Manus writes "this is an unacceptable situation" and "it is important that you contact me upon receipt of this letter to prevent potential legal action against the city."
"It's now secret Cairo is under one tremendous financial situation," Mayor Paul Farris said.
When asked about the letter and it's content, Farris didn't know if they were accurate or not, but said he, and the City Attorney, would look into it.
According to City Councilman Bobby Whitaker, this is not the first time city leaders received a letter like this from the bank. He does not know how the city will pay its bills, but said it is important city resident know what is going on.
City Clerk DeBran Sudduth says some of the bills are being paid for. One of the loans mentioned in the letter is for a street sweeper. Sudduth said at Monday's City Council meeting that the loan will be paid off soon. He said they will pay the second loan mentioned, which is for some derelict homes in town, when they have the money.