Hamilton County Commission to vote on $90 million credit line

Hamilton County Commission to vote on $90 million credit line

August 29th, 2013 by Louie Brogdon in Local - Breaking News

Hamilton County Commissioners will vote next week to approve or reject a revolving $90 million credit agreement with U.S. Bank National Association.

The credit line brought much discussion last month from commissioners, who tabled the initial resolution to seek the credit line over what some considered a wide window for potential interest rates.

The issue in July came over a 12 percent upper limit interest rate on the coupon rate to sell the bonds in the future.

Commissioners last month rejected the proposal but later passed the resolution 8-1, with Commission Fred Skillern voting no.

The commission's finance committee will recommend to approve the resolution.