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News Story
Updated: 01/03/2018 08:30:27AM

County OKs $8M in credit

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By PHIL ATTINGER

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SEBRING — If Highlands County needs money to cover tight cash flow from paying for hurricane recovery, it now has $8 million in credit.

The Highlands County Board of County Commission voted 4-0, with Commissioner Jim Brooks absent, in favor of a resolution in the form of a loan agreement. Tasha Morgan, Business Services director, said the county can now withdraw from that line of credit if needed — in $1 million increments — in hopes that they won’t. She said the county anticipates reimbursement from the Federal Emergency Management Agency for 75-90 percent of disaster recovery cost.

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