OLIVER, IL. (ECWd) –
The Clark-Edgar Rural Water District held a meeting on June 15, 2015. During the meeting, the agenda item for “Line of Credit” was discussed in length by none other than the Vice-President of Commercial Lending of Old National Bank in Marshall, and current Water District Trustee, David Sprigg.
In the below audio, Sprigg states that he put the Line of Credit paperwork together, but thinks it should go on the Water District letterhead “to be fair” and send it to local banks to bid on. He talks about a “Municipal Water District”, which tells us he doesn’t even know what statute this district falls under. He states that his bank can do 1 million dollars for 2.75% taxable, which makes it 2.1% tax free. He states he will get with the water district’s attorney to discuss this further.
The CERWD’s attorney should simply advise him to resign from his elected position as a Water District Trustee, and tell Old National they will not be getting this line of credit nor will they get the Bonds, due to the conflict of interest.
Trustee Sprigg discussing the Line of Credit during the June 15, 2015 CERWD meeting:
Previous articles here and here.
5 Comments
Warren J. Le Fever
Posted at 12:13h, 05 AugustI happen to know David Sprigg and he used to work for Old National in Marshall. According to my inquiry, he quit Old National Friday the 31st of July 2015 and is now working at Peoples Bank in Charleston. I find this humorous.
nellie
Posted at 14:49h, 04 Augustsprigg is not with old national
jmkraft
Posted at 15:01h, 04 AugustYes he is.
and he is listed on an Old National document: http://search3.crownpeak.com/cpt_redirect/486?account=47853a806922&qid=17034&ht=
nellie
Posted at 15:28h, 04 Augustcall peoples bank in charleston what you just posted was for 2014
jmkraft
Posted at 17:45h, 04 Augustif you listen to the video from May 18, he states that he brought another person with him from Old National. I will check it out though, since it might be possible he is only a “consultant” or something…