Walker County Borrowing Up To $10 Million To Pay Debts

  • Tuesday, March 10, 2015
Walker County Sole Commissioner Bebe Hieskell on Tuesday announced she was taking out a note allowing the county to borrow up to $10 million.
 
The county's tax receipts will be collateral for the loan.
 
Commissioner Heiskell said she would use $4.5 million of the funds from the note to pay two loans.
 
That includes a $4.2 million loan Walker County guaranteed for Hutcheson Medical Center through Regions Bank.
 
Another is $300,000 owed to Erlanger Health System for meeting payroll at Hutcheson.
 
Erlanger is seeking over $20 million from Hutcheson related to Erlanger's operation of the Fort Oglethorpe hospital after it got into financial difficulties. The hospital has counter-sued, saying Erlanger failed to perform on several promises made to Hutcheson.

The loan, which has a 4.5 percent interest rate, expires at the end of this year.


 
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