Questions remain on city/EDC loan after council meeting
by Franklin Clark, Reporter -- fclark@cadizrecord.com
Nov 13, 2013 | 92 92 recommendations | email to a friend | print
<i>Franklin Clark/Cadiz Record<p>
Cadiz City Attorney Allen Wilson (above left) answered some of the questions raised by Cadiz City Council members last Tuesday evening. Also pictured is Cadiz Mayor Lyn Bailey (above right).</i>
Franklin Clark/Cadiz Record

Cadiz City Attorney Allen Wilson (above left) answered some of the questions raised by Cadiz City Council members last Tuesday evening. Also pictured is Cadiz Mayor Lyn Bailey (above right).

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After more than 40 minutes of discussion at last Tuesday’s meeting, members of the Cadiz City Council still have unanswered questions about a $304,000 EDC loan.

At that meeting, Council members agreed, by a vote of 4 – 0, to table the issue after a motion by Cadiz City Councilor Manuel Brown. They will discuss funding for the Cadiz-Trigg County EDC (Economic Development Commission) and the repayment of that loan after they get more information. They also want more detailed monthly expense and activity reports from the EDC.

“I’ll make the motion that they furnish us this information that we need, and then we get with the county,” said Brown. “The City and County get together, meet Mr. [Don] Leibee at the bank and see what we’re responsible for.”

Last month, Council members asked who’s responsible for the repayment of the $304,000 loan that the EDC took out at the Bank of Cadiz.

For the rest of this story, see this week's issue of The Cadiz Record or subscribe to our e-Edition by calling 270-522-6605.
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