OTTAWA — Opportunity’s knocking and Franklin County is keeping the door open.
The Obama Administration is offering certain counties in the state the chance to issue two types of special bonds called Recovery Bonds. County administrator Lisa Johnson said because of the tax breaks offered to bond buyers, the bond interest will be much lower than normal government bonds. One set of bonds will be available for most government buildings, facilities, equipment and other big-ticket capital items, she said. The other set of bonds can be offer for projects or training programs for private enterprise, she said. She said she doesn’t have any projects in mind. She says there’s no penalty if the county chooses not to issue any bonds. Commissioners said they’ll keep their options open. The county will get the choice of issuing $1.6 million for government projects and $2.3 million for new business construction or other improvements. Johnson says the bonds are being offered to those counties that have been especially hard-hit by the recession. Amounts are based on a variety of factors, including foreclosures, unemployment rate and population, she said. Miami County is eligible to issue up to $4.65 million in Recovery Bonds. Anderson County is eligible to issue $116,000. Linn County is eligible to issue up to $1.3 million.
