TODAY IS Monday November 24th
Commissioners okay resolution for financing CR 200 N project
Monday Jul 21, 2014 11:28am
LaGrange County Office Building LaGrange, IN
By: Tim Murray
LAGRANGE - A resolution setting up the transfer and repayment of $2.7 million dollars for the reconstruction of County Road 200 North won approval by LaGrange County Commissioners this morning.
The money for the project will come from Major Moves and be paid back by economic development income taxes at a one percent interest rate.
County Attorney Kurt Bachman said the resolution outlines how the loan would be administered. A total of ten payments would begin in 2015 with an interest rate of one percent.
Bachman said the resolution gives the county some wiggle room if it hits hard times. It could choose to waive a payment in a given year by approving another resolution.
The EDIT Committee will be asked to add the project and repayment plan to its capital improvement plan before the first payment is made.
The project would level some hills and make the road safer in the vicinity of Pallet One.
Commissioners also approved the grant agreement and sub recipient agreement for Lima Township and the purchase of a new tanker truck for the fire department. The grant is for $150,000.
Commissioners authorized the purchase of three new workstations for LaGrange County 9-1-1 dispatchers. The $40,000 purchase will come from technology bond proceeds.