Tuesday, July 9, 2013

Daily Reporter Reports Hancock County Considers Bond Issue

From the Greenfield Daily Reporter:

Vote center equipment, roadwork, upgraded technology and more could be bought with borrowed money, and county officials are set to debate whether there are enough big-ticket expenses to warrant issuing another bond this year.

The public can weigh in this week on a bond issue that could total $1.995 million, just shy of the $2 million mark that would make it subject to a public referendum. But after last year’s public outcry against a bond issue that ultimately failed, it’s hard to tell whether elected officials and the general public will be on board this year.

The Hancock County Council and commissioners have been kicking around the idea of a bond issue for a couple of months now. Borrowing money is a ping-pong match of sorts for the fiscal and executive branches of county government: The commissioners have to pinpoint if there are major items that need to be bought, while the council decides whether to dip into the county’s existing coffers or go to a bank to borrow.

If the majority of both boards agree the money should be borrowed, attorney Ray Richardson explains, then the bond can be issued.