Commission takes lump sum, eyes future capital projects
Published 1:23 pm Tuesday, January 26, 2016
The Butler County Commission on Thursday voted to take the funds generated from the refinancing of two bond issues in a lump sum, which will be used for capital projects.
“I would like to see the money gathered into one lump sum, and then held here until we can decide some capital project that we can do that will benefit the whole county,” said Commissioner Allin Whittle.
Whittle’s proposal was approved with a vote of 4-0. Commissioner Frank Hickman was not present at the time the vote was taken, but said he was in favor of applying the savings back to the loan, which was taken out to help pay for the Butler County Correctional Facility.
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The funds must be used within three years.
The total to be received is still uncertain since the bonds have not yet been sold.