Monday, October 08, 2012

Sullivan County Takes Advantage of Low Interest Rates
Money from property taxes will start coming in by December as they are due by February. Until then Sullivan county plans to take advantage of low interest rates by getting a two million dollar loan. The Bank of Tennessee is providing an interest rate of well below one percent for a loan expected to be paid back by the end of the fiscal year or June 30th. The tax anticipation note will allow the county to operate until residents start paying. Commissioners say the loan will provide cash-flow for the general fund which is now needed after reserves have been depleted from trying to keep up with a slow economy. Over the past four years reserves have dropped from about 12 million dollars to 5 million, which led to the property tax increase of 20 cents in July. Some Sullivan County residents have complained that the government shouldn’t be borrowing money to pay bills, even though this is the first time Sullivan County has done so. Last year they borrowed to cover the schools budget. (bg)

Tuesday, June 30, 2015

  • Elizabethton School Leaders Looking for Over $367,000 to Build New Band Room at Citizens Bank Stadium
  • Abingdon Murder Suspect Makes First Appearance in Court in Arkansas
  • Two Counts of Theft for Kingsport Woman Who Bought One Vehicle With Bad Check, Drove Off in the Other
  • Bowerbank, EMATS Plead Not Guilty to Social Security Disability Fraud
  • Stolen Church Van Found Abandoned in Bristol
  • State Bar Revokes License of Lawyer Who Admits Stealing from Firm
  • Bristol, TN Abortion Clinic Remains Open After Federal Judge Grants Injunction



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