ABC Board receives Loan from Town of Spruce Pine
A request from the Spruce Pine ABC Board for a $460,000 loan from the Spruce Pine Town Council has been approved. The ABC board wanted the money to purchase the property where the ABC facility now resides on Hwy. 226 near Kentucky Fried Chicken. The 25 year loan will be divided into monthly payments of $2,551 at 4 percent interest. The local ABC Board is paying rent of $3,150 a month to a private entity right now. Interest collected from the loan will go directly towards the town fund balance.