LIVERMORE – Selectpersons voted Monday to accept Androscoggin Bank’s bid of 3.35 percent interest for an as-needed tax anticipation note of up to $325,000.

The town received three bids from banks, select board administrative assistant Kurt Schaub said Tuesday.

The other bids were 4.125 percent from Franklin Savings and 2.99 percent from T.D. Banknorth, he said.

The board voted to accept Androscoggin Bank’s bid with the justification of keeping business local, he said. Androscoggin Bank has branches in Livermore Falls, Turner and Jay among other places.

Highway foreman Moe Laverdiere told the board that a section of Old Leavitt Road, off Route 108 near the end of Brettuns Pond, was having water go around the culvert and that water was going underneath the pavement, washing the road out, Schaub said.

“We are looking at immediate action,” he said.

It is impossible to tell how far under the road the washout has occurred, he said.

Old School House Road, off Route 4 and River Road, also needs repairs.

More gravel needs to be added to Israelson Road to shape a crown so water will run off, Schaub said. Improvements were done on the road last year.

In other business, Kelsey Biliouris was awarded the $1,000 Augusta Pollard Scholarship. There were 16 applications for the scholarship and Biliouris’ name was drawn.

She is the daughter of Bill and Sue Biliouris and is going into her junior year at the University of Maine in Orono. She is studying the science of human movement, Schaub said.

The board scheduled a special meeting at 6 p.m. Monday, Aug. 18, at the town office to set the tax rate and to select a loan provider for a new highway truck.

Voters approved spending up to $85,500 on the vehicle in June.

The cost of the GMC four-wheel drive with a plow, wing and sander is $84,776 from O’Connor’s in Augusta GMC, Schaub said.

This truck will replace plowing responsibilities of the 2001 Ford 550. That truck will be used for running highway department errands and for patching but no longer for plowing, Schaub said.

The town has sent out 164 notices of pending liens for the 2008 property taxes, which was 10 less notifications than last year but equal to about the same amount of money due, $112,000.