Fiscal Court approves partial payment of EDC loan
by Franklin Clark, Reporter -- fclark@cadizrecord.com
Dec 04, 2013 | 88 88 recommendations | email to a friend | print
<i>Franklin Clark/Cadiz Record<p>
Trigg County Judge Executive Hollis Alexander (above) spoke of his support of the Cadiz-Trigg County EDC (Economic Development Commission) when the Fiscal Court paid half of the EDC’s $304,000 loan.</i>
Franklin Clark/Cadiz Record

Trigg County Judge Executive Hollis Alexander (above) spoke of his support of the Cadiz-Trigg County EDC (Economic Development Commission) when the Fiscal Court paid half of the EDC’s $304,000 loan.

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Approximately half of the Cadiz-Trigg County EDC’s line-of-credit loan from the Bank of Cadiz was paid off, thanks to the Trigg County Fiscal Court.

At their Monday evening meeting, magistrates, after very little discussion, voted to make a one-time payment of $152,432.66 – roughly half of a $304,000 loan the EDC (Economic Development Commission) took out several years ago for expansions at Transcraft.

Trigg County Judge Executive Hollis Alexander said the money will come from the county’s general fund. He also said the county’s budget committee – chaired by District Three Magistrate Jon Goodwin – decided to pay off the county’s half to show good faith and save interest costs, which were estimated to be about $10,000 a year.

“We support the EDC in the decisions that they made at that time. We feel like it created jobs, which helped this whole community, and we want to support that decision, we want to support the EDC,” said Alexander.

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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