Officials say the Allen County debt is in good shape, and they're hoping to secure reimbursements for future projects.
County Auditor Rhonda Eddy-Stienecker says the general obligation debt will be about $2.8 million at the end of this year. That includes the Civic Center, heat project, Eastown Road, and parking garage. A few years ago they refinanced bonds at lower interest rates and saw an increase in revenue, which resulted in additional money coming into the county. Now they're looking at continuing an inside millage that goes towards the county's debt to secure personal property reimbursements from the state.
Eddy-Stienecker says this will help with the projects in the county this year. "We have these large projects going on, either we have to move that money that was inside the millage that was going towards debt back to the general fund, or continue using that for the debt and borrow money with the county treasurer, by borrowing money then we can use that for those capital projects, also for a couple years to secure that personal property reimbursement," said Eddy-Stienecker.
She says borrowing money from the treasurer would allow them to secure about $255,000 a year from personal property reimbursement.
