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Dubois County approves $1 million loan and $500,000 grant to Huntingburg Regional Airport
Summary
The County Council approved Resolution 2024-15 to provide a $500,000 grant and authorize a loan up to $1,000,000 to the Dubois County Airport Authority for the Huntingburg Regional Airport terminal project; the loan is interest-free for three years, then 2% annually for years 4–20, and passed unanimously.
The Dubois County Council on Sept. 23 approved Resolution 2024-15 to provide a $500,000 county grant and authorize a loan not to exceed $1,000,000 to the Dubois County Airport Authority for the Huntingburg Regional Airport terminal building project. Auditor Sandra L. Morton presented the resolution and the motion to approve carried unanimously.
The resolution authorizes a 20-year loan with no interest during the first three years and an interest rate of 2% per year on the unpaid balance in years four through 20. Interest-only payments are due each July 1 in years four through 20, and the principal and any unpaid interest are due in full on the 20th anniversary of the loan. The resolution cites I.C. 8-22-3-19 and specifies that repayment is limited to the airport’s cumulative building fund and airport-derived revenues and grants; it may not be paid from a general operating property tax levy for the airport district.
Council approved the related Loan Agreement (Exhibit A) at the same meeting; Meredith Voegerl moved to approve the agreement and the motion carried 6-0. Auditor Morton said the agreement had been approved earlier by the Board of Commissioners on Sept. 16, 2024. Doug Uebelhor moved to approve Resolution 2024-15 and Alex P. Hohl seconded; the resolution passed unanimously.
The council’s action allows county funds to be used alongside FAA, INDOT, grant and local airport funds to complete terminal construction if additional funding gaps arise. The resolutions and loan agreement authorize county officers to execute the agreement and take necessary steps to implement the loan.
