JEFFERSON CO.-- Saddled with a lot of bond debt, a battle over the desire for more bonds is brewing in Jefferson county.
This time, three county commissioners are against one commissioner's push to borrow more money to solve county problems.
Currently an estimated $56.5 million dollars is needed to address capital projects in Jefferson County.
In a four page memo sent by the county’s acting finance director, Travis Hulsey, the county is need of repairs to a number of roads, bridges, buildings and also in need of a host of new technical and medical equipment. Under the American Recovery and Reinstatement Act, Jefferson County, if approved would be able to tap into $26.8 million dollars generated through bonds.
The federal government’s plan would pay 45% interest on new bond debt while the county would pay for the remaining interest along with the principal amount.
On Tuesday, Commissioners openly talked about this idea of taking on new debt to NBC 13 HD news. Some commissioners questioned whether the county should take on more debt to address the county’s needs. To hear what the commissioners what else some commissioner questions in the online player above.
Please click on the video player above to view the report.
If you would like to view the memo sent to Jefferson County Commissioner from Acting Finance Director Travis Hulsey, please access the URL link below.
http://static.mgnetwork.com/vtm/docs/bonds.pdf
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