Texarkana College to Get Help With Capital Improvements
Four Texarkana banks are collaborating on a $3.5 million participation loan to upgrade campus HVAC, lighting systems, and roofing.Officials with Guaranty Bond Bank, Commercial National Bank, Bancorp South and State Bank of Texarkana met to finalize the loan and express their support of the need to maintain Texarkana College’s facilities at a level that will best serve students in the community.
In early March, Texarkana College invited local institutions to submit a proposal for a term note not to exceed $3.5 million. Guaranty Bond Bank’s proposal offered the best interest rate for the college, and they invited several peer institutions to participate in the loan.
College President James Henry Russell says ” The facilities on the Texarkana College campus have years of deferred maintenance needs and high utility costs that are necessary to address if we are going to continue to provide a safe and desirable campus for our students.”