Hamilton County Commission Approves $90-Million Line of Credit

Reported by: Amy Katcher
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Updated: 7/17/2013 12:58 pm
(WDEF) The Hamilton County Commission wants a $90,000,000 line of credit for future public works projects.
     The money isn't earmarked for any specific project just yet.
     The plan is to take advantage of interest rates now, while they're at historic lows.
     But Commissioner Warren Mackey pointed out the wording on the resolution authorizes up to 12%.
     Commissioner Mackey said, "If the traditional difference is going to be a half of a  per cent, why do they allow such a wide range up to 12%?"
     Commission Chair Larry Henry called for a vote limiting it to 4%.  He said, "We've got a motion on the floor for the amendment to 4%.  Mr. Clerk, would you call the roll please?"
     The resolution passed unanimously.
     Also Wenesday morning, the Commission voted to accept a Best Buy bid for new televisions for Red Bank Middle and Ooltewah Elementary Schools.
     The total cost is just under $195,000.
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