From the Lafayette Journal and Courier:
Tobacco users came to the rescue of West Lafayette.
The state released money from the state’s cigarette tax earlier than normal, making an ordinance for a $268,630 loan to cover police and fire pension payments to the old pension plan unnecessary.
“I didn’t believe I’d have the state pension relief payment, which is due in early October,” Clerk-Treasurer Judy Rhodes said Thursday after the West Lafayette City Council’s precouncil meeting.
Rhodes said the city needed the funds in its accounts in time to make the payment. That would have required a loan, which would have been repaid before the end of the year.
“I asked for a temporary loan ... on last Thursday. Lo and behold, on Monday, it landed,” she said, referring to revenue from the cigarette tax. The amount was more than enough to cover the pension payment, she said.
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http://www.jconline.com/apps/pbcs.dll/article?AID=2012309270030
