A Walker County Superior Court judge on Tuesday morning approved a plan to put $15.3 million of Walker County debt under the county's Development Authority.
Judge Jon "Bo" Wood said the plan seemed "reasonable, sound and feasible."
But one citizen, Jill Wyse, filed an objection, and a number of those at the hearing in LaFayette appeared to have concerns.
One said as he left the hearing, "Better get out your pocketbooks."
Ms. Wyse said, "A lot of citizens are very concerned about this plan and feel that the timing has been rushed. They have had only seven days to try to understand it. Its effect will be for the next 20 years. It is going to affect our grandchildrens' children."
She had questions about the meeting of the Development Authority at which it was approved. Larry Brooks, county economic development director who is also executive director of the Development Authority, said it was held Aug. 31 at 5 p.m. because the chairman was not available for the usual meeting on the second Tuesday at noon.
He said it was advertised on the Development Authority's website and in the Walker County Messenger two days before the meeting.
Judge Wood dismissed the intervention by Ms. Wyse, noting that she had not served all the parties with her filing and that she is not a resident of Walker County. County Attorney Don Oliver asked for the dismissal, saying otherwise she might be able to file an appeal and delay the implementation of the plan.
Ms. Wyse said she does have 64 acres of property in Walker County.
She questioned the fact that Walker County has not yet paid a fine levied by a state water quality program over the alleged muddying of the waters of Rock Creek on Lookout Mountain - near her property.
Attorney Oliver said everything was in order to proceed with the plan. He said it would not be a debt or pledge of credit by the state or Walker County.
Collateral includes the county's civic center and agricultural center at Rock Spring and the Mountain Cove Farm property as well as the county's two industrial parks. It also includes a pledge to levy up to 1 mil of new taxes if necessary. Walker County had a 13 percent tax increase last year.
The funds are to pay the county's obligation in relation to the financially-distressed Hutcheson Medical Center as well as industrial park expenses. Walker County and Catoosa County agreed to back up to $10 million each of $20 million Erlanger Health System put into Hutcheson while managing it.
The county is expecting to get an interest rate above 5.5 percent. It is allowed to go up to seven percent.
The action was filed in the name of the district attorney, but he was not involved in the hearing.