COLT COAL COMPANY MAKES PROPOSAL TO BUY COAL RIGHTS IN BOND COUNTY
The Bond County Board met Tuesday morning and early afternoon at the Bond County Courthouse. Representatives from Colt Coal Company were on hand to discuss their proposal to purchase coal rights in Bond County. The proposal would replace the current lease agreement the county has with Colt Coal. The purchase proposal price is 4.5 Millions Dollars with $500,000 to be paid at closing and eight annual payments of $500,000 with 6 percent interest. The deal also pays the county 1% overriding royalties on the coal. The purchase would include all land in the lease agreement and many acres that were disclaimed earlier, totaling nearly 750 acres. The purchase of coal rights does not guarantee a mine will be built, nor does the continuation of the lease agreement mean a mine will not be built. However, Colt Coal Company representative Jim Morris said it's more economical to build mines in areas where they own the coal. Three possible mine locations were mentioned, but specifics were not given. The first location is west of Greenville, the second is near Pocahontas and the third is near Old Ripley.
Many residents were on hand to discuss the possibility of a coal mine. The Bond County Farm Bureau released a statement asking the county board to "take a cautious, deliberate, approach," to the proposed sale of coal rights to Colt Coal Company. Many citizens were also concerned about possible pollution from the mine, the purchase price being high enough, and thought maybe the county should ask for more money from Colt. Other citizens were concerned about the rural water situation. Morris said a coal mine would require 1,000-1,500 gallons of water per minute. No plan is in place to provide for the extra water needs, but Morris said they are looking for non-treated industrial water. Morris also said that residents will not have their water disrupted by any possible mine.
Colt Coal has also included an option that would allow them to get rid of the 1% royalty, in the proposal to the county. The option would allow Colt to pay the county an additional 1.5 millions dollars. Colt would only have this option if it, or any of it's related affiliates, are successful in bringing a coal use facility to Bond County, such as a coal gasification plant, with a total investment in excess of $500 million dollars. The Bond County Board has decided to hold a vote, on this proposal, at the next county board meeting July 15th, at 7:30 PM.
CAR HITS STUMP AND ROLLS OVER
Bond County Officers, Greenville Firemen, and Bond County EMS responded to an accident, which occurred Tuesday afternoon at 4:28 on Rt. 127 south of Greenville at Airport Road. Jon M. Chasteen, age 37, of Greenville was southbound on Rt. 127 in a 1995 Oldsmobile, when he braked and drove off the right side of the road to avoid hitting a car that had slowed to make a left-hand turn. Chasteen's car hit a stump, causing it to roll over, coming to rest on it's top. Greenville firemen were called to the scene due to smoke coming from the car, but there was no fire. Bond County EMS took Chasteen and his son Aaron, age 8, to Greenville Regional Hospital for treatment. Two other passengers in the car were not injured.
TRUCK RUNS OFF ROAD INTO BEAN FIELD
Bond County Officers were called Tuesday afternoon, at 6:03, to the scene of an accident on Trapper Avenue, just west of King Road. Derik A. M. Lindahl, age 18, of rural Mulberry Grove was eastbound on Trapper Avenue in a 1993 Ford Ranger when he ran off the road on the right, ran along a guardrail, and then turned back onto the road. The truck crossed the road, hit the ditch and came to rest in a bean field. Lindahl was taken to Greenville Regional Hospital for treatment. He was cited for alleged failure to reduce speed to avoid an accident.