County Awarded for Low Interest Simulus Loan For Courthouse Project

County Awarded for Low Interest Simulus Loan For Courthouse Project

 Clark County has been awarded a $3,420,000 dollar low interest loan approval through the Missouri Department of Economic Development. The money is from the Recovery?Zone Economic Development Bond fund. This is in addition to the nearly half-million dollar low interest loan approval the county previously received. The American Recovery and Reinvestment Act of 2009 created the Recovery Zone Economic Development Bonds, which may be issued for public projects. ?The county would need the approval of the voters in the April election to borrow the money for the courthouse replacement project. If the voters approve, the low interest loan would save the taxpayers $1,293,000 over the life of the bond, and would allow the courthouse project to be completely funded by a one-half cent sales tax increase. “We need for the voters to approve the half-cent tax increase in the February election, and then approve this bond issue in April,” Clark County Commissioner Jerry Neyens explained. “This is our best chance to get this done.”