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Council transfers correctional fund dollars to debt service; commissioners report jail on schedule and under hard‑cost target
Summary
The council approved a transfer from the correctional LIT fund into debt service and commissioners reported the jail construction remains on schedule and within its frozen hard-cost figure; officials discussed reserve options and possible early bond redemption.
The Allen County Council approved a transfer from the correctional locally‑imposed tax (LIT) fund into debt service on Wednesday and received an update from county commissioners on the new jail's cost and schedule.
Council approved a motion to transfer funds within Fund 132 (Correctional LIT) from jail construction to debt service; the motion carried unanimously. The transcript records the motion as: “I will motion for the transfer within correctional lit fund 132 of 111,000,000, $6,703 from jail correct jail construction to debt service.” The…
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