Riverboat funds used to operate LaPorte County government during the several years it took to finish the property tax reassessments will be paid back.
The decision Monday night by the LaPorte County Council goes against the wishes of the LaPorte County Commissioners who wanted to clear the books of the expended casino money.
"This is the way it had to be," said LaPorte County Councilman Rich Mrozinski, who said by ordinance any casino money spent from the rainy day fund must be paid back.
The rainy day fund, supplied with riverboat dollars, was created over a decade ago for use in emergencies and contained $10 million when delays in reassessing property taxes countywide left local governments short of revenue.
Instead of borrowing funds to operate and paying back the money with interest, the county took out interest-free loans from the rainy day fund each year to help pay daily operating expenses until the reassessment was completed.
The fund has just $1 million left.
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