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City Council Talks Debt

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debt
debt

Debt may not seem like much of a concern to many of those in the federal government but in towns and cities across Indiana the status of their municipal finances is a big concern.

For Terre Haute it's no different and at last night’s sunshine meeting that was what they talked about.

According to the mayor Duke Bennett, the city entered this year with 4.5 million dollar debt in the general fund and that could go up by about another million.

There were some ideas brought up to deal with the issue.

One was to borrow two million dollars from the Economic Development Income Tax fund or E.D.I.T. fund.      Another was to move 3.5 million dollars from the Rainy Day fund to the General fund and then move just under 2.1 million from the waste water fund.      In the end nothing was decided last night but they will have to deal with the problem sometime soon.    

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