Orange County pays off $2 million loan

Orange County pays off $2 million loan

Orange County Judge Dean Crooks announced the final payment of a loan taken out to pad county coffers for the last months of 2018. The loan was originally anticipated to be $8 million.

On Nov. 6, 2018, Orange County Commissioners' Court voted to approve a Tax Anticipation Note for $8 million. The loan was designed to assist with the cash flow issues we anticipated for the last three months of the calendar year 2018. Due to the restraint in spending by various Orange County departments and the diligence of County Treasurer Christy Khoury, no more than $2 million was ever actually funded.

County officials announced as of Jan. 10, the loan was officially paid off and the debt to the county had ended. 

With regards to the repayment of the loan, Crooks said, "I am thankful for all of the Orange County department heads, elected officials and employees for working together to keep county costs down during this time."