County Officials Discuss Short-Term Line of Credit and Adjusting Operating Balance to Smooth Cash Flow

The county treasurer, Brad, briefed the council on bank conversations about a short-term revolving line of credit to cover midyear cash-flow gaps. He said two local banks — First Merchants and Star Bank — were contacted, and initial terms discussed included a setup fee, interest only when drawn, and rough rate estimates in the mid-single digits (he cited about 6%). Brad said the bank relationship and the county’s deposit balances could affect fees and rates, and that he would request formal offers and confirm multi-year availability to avoid annual setups.