BOMA rejects banking proposals

Sevierville will keep accounts with Tennessee State Bank
Dec. 20, 2012 @ 11:28 PM

At its meeting Monday night, the Board of Mayor and Aldermen voted unanimously to reject proposals for banking services submitted by banks in the region. The city of Sevierville will keep its accounts with Tennessee State Bank. Banks that submitted proposals include BB&T, U.S. Bank and Citizens National Bank.

"We requested proposals from all the banks in the region," City Recorder and Finance Director Lynn McClurg told the board. The city's three-year contract with Tennessee State Bank is up, she said. "We had a two-year option to renew, and they didn't want to renew."

A combination of low interest rates and high fees make the banks' proposals unsuitable, McClurg said. "There also are charges related to changing banks."

McClurg recommended that the city revisit the banking decision in a year or so, because market conditions may improve.

During the public forum at the beginning of the meeting, Sevierville Chamber of Commerce Member Coordinator Jim McGill announced that he will run for alderman in May. Next, chamber CEO Brenda McCroskey described a recent marketing collaboration between the Sevierville and Gatlinburg chambers and the Pigeon Forge Department of Tourism.

On the entertainment front, Sevierville chamber Marketing Director Amanda Marr said that the lineup at this year's Bloomin' Barbeque & Bluegrass festival, May 17-18, includes the Bluegrass Album Band, one of the genre's most storied acts. "It's been about 30 years since they performed," she said.

In other business, the board also approved:

- Amending the fiscal year 2012 budget for items that exceeded the budget

- Rezoning a Village Drive property from R-1 to C-3

- Requesting that the General Assembly permit Sevierville to levy a privilege tax

- Naming a Veterans Boulevard bridge in honor of the late fire chief Michael L. Rawlings; the state legislature must approve the name

- A water agreement with Sevier County

- The city's marketing agreement with the Sevierville Chamber of Commerce

- Expenses in excess of $5,000