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Friday, May 24, 2013 | 3:15 a.m.

Posted: 1:35 p.m. Tuesday, Dec. 11, 2012

Paint Twp. approves $350,000 loan from bank to help budget woes

6 News
6 News

By WJAC Web Staff

SOMERSET COUNTY, Pa. —

 

Paint Township supervisors have approved a loan to help the struggling Somerset County township's deficit.



At a special meeting on Monday, the supervisors approved getting a five-year, $350,000 loan from 1st Summit Bank.



The loan amount nearly matches the deficit facing the township in its current budget. The loan agreement must be approved both at the county and state levels.



Even with the loan, the supervisors have discussed a 6 mill tax increase for 2013. The supervisors said they hope to adopt next year's budget in a few weeks.



Stay with 6 News, WJACTV.com and WJACTV.com Mobile for continuing coverage.

 

RELATED ARTICLES:

-Sept. 19, 2012: Paint Twp. supervisors discuss 75 percent tax increase

-Nov. 30, 2012: Paint Twp. approves 2 police contracts with increases

 


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