Delaware County is apparently having some difficulty borrowing money, according to a story by Nick Werner of the Muncie Star Press. Bank of America sent Delaware County an e-mail explaining why it was reluctant to loan money to the unit of local government.
The e-mail expressed concern that Delaware County was a risky investment, citing several key points, including recent publicity surrounding the financial difficulties facing both county and city government.
The e-mail specifically referenced a Nov. 25 article in The Star Press wherein county council President Chris Matchett was quoted as saying the county council had to authorize the borrowing to keep it from locking the doors and turning out the lights.
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“While this is a potential overstatement, waiting so long to address the shortfall leads to questioning management strength/skills of the county administrators,” the e-mail said.
. . .
“It appears that Muncie, the principle municipality in the County, is facing some dire economic conditions, to the point they have closed fire stations, cut police force and actually contemplating turning off 1/2 the streetlights in the city,” it said.
Some of the troubles have to do with a software conversion that is delaying the property tax process. But, looking in from afar, I get the sense that a lot of the troubles also have to do with political posturing in Muncie and Delaware County that has been detrimental to the actual business of administering those units of local government.
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