Thursday, October 04, 2012
Sullivan County Gets Tax Anticipation Loan
Sullivan County has borrowed two million dollars in order to pay their bills. They closed a tax anticipation loan with Bank of Tennessee on Wednesday. In a story in the Bristol Herald Courier, County Trustee Frances Harrell said that several large bills have come in and payroll must be met on Friday. Even though property tax notices have gone out, most of that money comes in later on in the year. The county must pay back the two million dollars by the end of June.