Chowan County Gets Extensions On Two Loans
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Posted: 7:00 PM Sep 2, 2008
Chowan County Gets Extensions On Two Loans
North Carolina officials are letting cash-strapped Chowan County extend two of its loans to give the county's managers more flexibility to pay their bills.
Reporter: Dave Jordan
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North Carolina officials are letting cash-strapped Chowan County extend two of its loans to give the county's managers more flexibility to pay their bills.

The Local Government Commission on Tuesday signed off on the
county's requests to spread out payments on two existing
construction loans over an additional 4 1/2 years and 5 years.

Extending the repayment schedule will help county officials as
they struggle to pay their bills.

In July, the new Chowan County manager announced the county's
once $25 million reserve fund was nearly depleted. Since then, the
county has worked with state officials to reduce spending and raise
additional money.

State authorities also are investigating possible criminal misconduct.

Copyright 2009 by The Associated Press. All Rights Reserved.


Latest Comments

Posted by: Chris Location: Greenville on Sep 3, 2008 at 05:53 PM

I want state officials to do this for me and every other North Carolinian. Why does Chowan County get special treatment?
[ Report Abuse ]
Posted by: not a happy resident Location: chowan county on Sep 3, 2008 at 06:37 AM

I want to know why, after paying my county taxes 2 months ago (due in Jan 2009) that I have now received another bill for tax adjustments. Why should I have to pay for the sticky fingers of corrupt county officials? Despite what they may proclaim there was more than one in on it....there is no way in hades that 20 million dollars just disappears and no one notices it. Where is the accountability of these so called officials?
[ Report Abuse ]

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