AMERICUS — The Sumter County Industrial Development Authority (IDA) and Americus-Sumter County Payroll Development Authority (PDA) convened in a joint meeting Tuesday at the Rees Park Economic Development Center.

Barry Blount, chair, called the IDA to order, and Paul Hall, chair, called the PDA to order.

Dan McRae, partner of Seyfarth Shaw LLP in Atlanta, presented new information about bonds to the gathering through a laptop presentation. After McRae’s presentation, a session was held in which several members of the authorities posed bond-related questions, to which McRae gave his answers. The question and answer session ended, and McRae was adjourned from the meeting.

David Garriga, executive director of the PDA, spoke about food processing equipment that was inherited after being placed on leverage. Garriga said that the equipment, which included a spiral freezer, was in storage, and the cost of it remaining in storage was becoming expensive. Considering costs for storage, which are roughly $8,000-$10,000, Garriga proposed selling the equipment for $50,000. All of the equipment was evaluated to be worth $125,000, and an offer was made to purchase the spiral freezer for $50,000. Originally, the offer to sell the food processing equipment was made as a package finance deal set at $125,000. Garriga said that the individual interested in making the purchase would not require delivery for the equipment.

PDA member Mike Donnelly asked if an offer had been made for $100,000, and he also asked if the equipment was used.

Garriga replied that the equipment had been rebuilt. He also stated that the estimate for the worth of the equipment had been set by a businessman.

Paul Hall asked if the PDA wanted to pursue the offer made by the individual to purchase the spiral freezer. This offer was stated as being the best offer made in regard to purchasing part of the food processing equipment.

Donnelly called for a vote to sell the spiral freezer, and the PDA ultimately agreed to sell it for $50,000.

The next PDA meeting is scheduled for Oct. 5 and the next IDA meeting is scheduled for December.

As the meeting neared its closing, Blount announced that the Annual Existing Industry and Business Appreciation fish fry will be held Oct. 7 in Plains.