By Lucas Vance email@example.com
February 18, 2014
WINNSBORO — Friends of Mt. Zion Institute has secured liability and property insurance for the Mt. Zion property, FOMZI chair Vicki Dodds has reported to the town of Winnsboro.
The deed-transfer process had been delayed because FOMZI was having trouble purchasing property insurance, which was part of the initial contract with the Town of Winnsboro.
Town council held its first reading on an ordinance to transfer the deed to FOMZI on Jan. 7. However the subsequent readings have been put on hold.
The contract signed in November by the Town of Winnsboro and FOMZI, stated that FOMZI was required to insure the Mt. Zion property against loss or damage within 30 days of transfer.
According to the insurance binder provided by the Town of Winnsboro, FOMZI purchased a one-year coverage plan from Lloyds of London Insurance.
For a premium of $2,840 (including fees and taxes) per month, the Mt. Zion property is insured for up to $1 million. The coverage is effective from Feb. 7 for a 12-month term.
In other business, council unanimously approved a motion to present Mid County Water with a revised amended contact. The terms of the wholesale water purchase agreement offered by Winnsboro to the board of directors of the Mid County Water Company have not been disclosed and have been designated as exempt from disclosure.
Council appointed Mayor Roger Gaddy, Councilman Clyde Sanders and Town Manager Don Wood to a water committee to meet with Mid County Water representatives to discuss the agreement and scrutinize any changes or recommendations proposed by Mid County Water.
Winnsboro Town council will meet again Feb. 18 to further discuss legal and contractual issues concerning Mid County Water and Mt. Zion.