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Columbus To Use Sports Loan For Infrastructure Projects

By Indiana Public Media News Staff

Posted February 23, 2012

The Columbus city council is taking money initially dedicated to the construction of an outdoor sports complex and directing it to other infrastructure projects.

The city took out the $8.2- million loan in 2010. Council voted last month not to build the sports complex the money was intended to fund. Now Mayor Kristen Brown says she wants to use the loan to pay for some capital improvements that had been deferred.

"Primarily a road overlay program and some facilities maintenance in our parks and rec department," said Brown

The council decided Tuesday to reissue the debt rather than prepay the bond. Brown said the prepayment penalties would have been around a half million dollars. The council plans to take public input at a meeting March 6th to determine how to spend the remaining money.

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