If Bank of America doesn't want Lycoming County's money, another bank does.
On Thursday, the county commissioners will consider moving about $33 million in county investment funds to Citizens and Northern Bank.
Merrill Lynch manages the funds, Beth Johnston, county director of fiscal services, told the commissioners on Tuesday.
Bank of America bought Merrill Lynch in 2008, according to Johnston. Because the bank does not handle public funds, the county will have to invest them elsewhere, she said.
The money includes $26 million set aside for the closure of waste fields at the county landfill in Brady Township, plus about $7 million remaining from Build America Bonds issued by the county.
Citizen and Northern Bank already manages two accounts for the county and previously managed the funds being moved from Merrill Lynch, Johnston said.
When the money manager from Citizens and Northern Bank, Mark Huffman, took a job with Merrill Lynch, the county chose to hire that firm to invest the money because Huffman did an excellent job for the county, Johnston said.
The commissioners also will consider placing $2 million in a Muncy Bank and Trust money market account. Thursday's action includes approval of an agreement setting interest rates and fees, Johnston said.
The commissioners will consider a resolution allowing the state Department of Transportation to study transit services in the county.
Lycoming County was one of six counties in PennDOT District 3-0 that have been invited to participate in the study. Several counties in District 2-0 also have been invited to participate, said Mark Murawski, county transportation planner.
The study will identify deficiencies in transit services and make recommendations designed to eliminate those deficiencies, Murawski said.
Invited counties do not have to participate in the study, nor do those that do participate have to abide by study recommendations, he said. PennDOT will foot the bill for the study, he added.
According to Murawski, local transit service providers River Valley Transit and STEP Inc. "are on board" with the study.
There will be no penalties for not participating, he said.
"But (counties and transit providers) need to understand transit funds are drying up," he added. "If they don't make the best use of the money they get, they are in trouble. There is no bailout for transit. They'll be forced to cut services and raise fares."
The commissioners will consider an agreement that will allow the county to participate in public cable Channel 75, made available by Comcast.
The agreement, which is contingent on approval with the Williamsport/Lycoming Chamber of Commerce, under whose umbrella the station initially will operate, will allow emergency information, special events and tourism information to be broadcast over the station.
