Monday, August 10, 2009

August 10, 2009 Last-minute Addition to Today's Hamblen County Committee Agenda?

There is a strong rumor from several sources that a last-minute addition will be made to a Hamblen County Commission Committee agenda today. [Maybe Finance Committee?]

It seems that a few officials and maybe a commissioner or two have been involved and have been "in the know" about the availability of some money for school capital improvements. Today, the rest of the commissioners may be let in on the information.

This looks like it may be one of those rush-rush deals that is thrown at commissioners with the dire warning that this must be done right away. You always wonder how decisions involving millions can be made on the spur-of-the-moment.

But, then again, our Congress passes bills involving billions and trillions without reading them, so why shouldn't our local county commissioners approve loans and refinancings and appropriate millions on the spur-of-the-moment?

[Post meeting update: Tennessee is to receive millions in stimulus funds and school districts across the state can apply for construction loans. The Hamblen County School Board is going to apply for about $13 Million in school construction loans. As it was presented, the loan has to be paid back but with no interest. The deadline for the application to be submitted in Nashville is around August 21. I believe it was mentioned that 1/10 of the funds received have to be spent within six months. You can bet your bottom dollar that school districts will be slapping loan applications together to get at all the money floating around.]

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