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Scott County Council delays second reading of judgment bond ordinance to Oct. 14 after public comment
Summary
After public comments and questions about financing and timing, the Scott County Council tabled second readings of two bond-related ordinances that would authorize judgment funding bonds tied to a sheriff litigation. The council set Oct. 14 as the next opportunity to consider the measures.
The Scott County Council delayed final action on two bond measures tied to a judgment against the county, voting on Sept. 9 to table the ordinances to the council’s Oct. 14 meeting.
The ordinances under consideration would authorize issuance of judgment funding bonds not to exceed $6,000,000 to cover an “agreed judgment” of $4,490,000 and related costs, including continuing litigation and issuance expenses. Members of the public and several council members raised concerns about timing, rising legal fees and the effect on county reserves and taxes.
The matter began as a public hearing. A resident questioned whether the county should have raised property taxes last year rather than borrow now, saying an emergency bond would “end up costing us double in taxpayer money”…
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