The Court conducted the first reading of an ordinance that would allow the county to borrow
"This isn't a bond. It's a lease we were able to get through KACO," said Judge-Executive
According to a letter from the
"I estimate that we will be able to resurface about 15 percent of all the roads in the county with this money," said Wallace.
When asked about the financial burden to the county, Wallace said that his plan is for the loan to be repaid with proceeds from the road fund over the next five years.
Using a standard amortization schedule over a five year period, the county would be responsible for making monthly payments of
Totaling those figures up over a year, this means the county would be committing
According to Wallace, each of the county's five districts would receive
No set plan is in place as to which road would be repaved,but Wallace indicated that citizens would need to contact their magistrates if they feel a particular road needs attention.
There is currently no date set for a second reading of the ordinance but
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