County Council borrows $500,000 to Cover General Fund

wabash-county-council

By Emma Rausch

emma@thepaperofwabash.com

 

WABASH COUNTY, Ind. – The Wabash County Council approved borrowing a loan for up to $500,000 Monday night, Oct. 24, to support its General Fund through the end of the year.

The Council unanimously adopted the resolution approving the loan, which is provided through the Cumulative Bridge Fund.

The loan will be repaid following the upcoming tax draw, or before Dec. 31, according to Mike Ridenour, Council chairman.

“This is just to cover expenses until the tax draw,” he said.

In other business, the Council provided an additional appropriation of $30,000 to the County Coroner to cover the costs of autopsies as well as an additional appropriation to the Solid Waste Management District of $25,000 for a skid steer.

The Council also approved a recommendation to transfer $15,000 from the Local Income Tax (LOIT) Public Safety Fund to the Sheriff’s Department for K-9 program.

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