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Dorchester County staff outline $33.6M debt picture, say water-utility loans remain separate pending USDA paperwork
Summary
County finance staff reported about $33.6 million in outstanding principal and roughly $1.5 million in annual interest; staff said water and wastewater loans are still in the utility’s name while USDA loan transfers are completed and the council should expect no action tonight.
County finance staff presented a review of Dorchester County’s outstanding debt and told council members the county is not seeking new borrowing in the FY27 draft budget.
"We have here our total debt for the county," said Karen (Speaker 7), presenting a slide that showed about $33,600,000 in principal outstanding and roughly $1,500,000 in interest expense for the fiscal year. Karen said the county expects to retire nearly $2,500,000 of principal this year and that most…
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