Drainage board amends reconstruction financing assistance program; members debate 5% default interest
The board approved Resolution No. 2025-02-DB to move the Reconstruction Financing Assistance program funds into the general drain improvement fund and change the program's default availability; commissioners discussed whether a fixed 5% interest rate remains appropriate given current market conditions.
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The Tippecanoe County Drainage Board approved Resolution No. 2025-02-DB, a housekeeping amendment that moves the Reconstruction Financing Assistance program's transactions into the General Drain Improvement Fund and changes the program's default so assistance is available by default for reconstructions unless the board specifically declines for a given project.
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