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Adams County approves $2.5 million short-term loan

Adams County approves $2.5 million short-term loan

4 months ago by Scott Hardy

Will be used to cover some expenses; to be paid back by August 31

The Adams County Board has given final approval to a plan to take out over two million dollars in a short-term loan, to cover some operating expenses.  

The Board voted Tuesday night to approve a resolution that would put $2.5 million into the budget, to cover some expenses until property taxes start being paid in June and July. Earlier this month, the Board approved the terms of the so called "tax anticipation" loan from First Mid Bank of Quincy. The loan would be paid off by the end of August. Finance Committee Chairman Bret Austin has previously said that the county's healthy financially, but that the shortfall came about in part due to a $1.2 million increase in spending in the General Fund, and the County Ambulance Service. The County Board also voted to approve an additional $50,000 in change orders for the new Adams County Jail, due to be completed in November. The County's Jail sub-committee believes that they should be reimbursed on up to 65% of that total. The County plans to sit down with Chicago firm HOK this fall, about being reimbursed.

The County Board also voted to only pay Board members' mileage when they travel outside Adams County on official business. They had previously also been paid mileage for travel in the county.

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