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Gadsden County outlines three-year plan to cover $423,000 balloon payment, taps contingency for first installment
Summary
County staff told commissioners they will structure a three-payment plan so the $423,000 balloon debt service appears in this year’s budget; $87,000 will come from contingency to cover the initial payment, and several small grant and travel adjustments were also presented.
County staff told the Gadsden County Board of County Commissioners that a large balloon payment will be reflected in this year’s debt-service budget but paid in three consecutive installments, with one payment already made and two remaining.
“We're approved to use 3 payments to pay off setting up the budget so that there will be the 423,000,” a staff member explained. Commissioners and staff agreed the approach will show the full $1,000,002…
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