PARIS – Commissioners selected Oxford Bank over four other lending institutions on Tuesday to borrow tax anticipation money.

Oxford Bank said it would charge 1.63 percent interest on a loan of up to $1.5 million whether it was borrowed as needed or in a lump sum.

The second lowest bidder was Bangor Savings Bank at 1.66 percent. Other bidders were Androscoggin Bank, Northeast Bank and Norway Savings Bank.

The tax anticipation loan is a common loan for the county to take yearly to keep a steady cash flow during the period in which towns pay county taxes.

Commissioner Steven M. Merrill said the length and amount of the loan has varied over the years and is usually not needed past June.

The approval was contingent on the review of County Treasurer Mary Ann Prue.

Administrative Assistant Carole Mahoney reported to commissioners that she would be able to set the mill rate and determine county taxes later this week.

She said she received the state valuation for Oxford County municipalities for 2004, which was $4,135,150,000 – a $292,050,000 increase over 2003.

Commissioners heard a report from Jami Whitney, new program manager for the Oxford County Soil & Water Conservation District telling of upcoming projects.

She said the projects would be conducted in the area of Bear Pond, the Saco River, Sunday River and Keoka Lake. They would include buffer planting, erosion control and workshops for residents in those areas.

Commissioners also reviewed the mileage reimbursement rate for county employees and said they would favor increasing it from the current 34.5 cents per mile to 37.5 cents per mile.

Commissioner Frederic Kennard said he wanted to see the overall impact the change would have on the budget before issuing any approval.

The board also heard a report on the cost of a promotional magazine for Oxford County to have for the 2005 bicentennial. The report was preliminary and pegged the cost of the magazine at approximately $22,500, before including revenue from advertising.

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