At a joint meeting Tuesday, the Daviess County Commissioners and Daviess County Council took action to refinance bonds that created the County Adjusted Gross Income Tax and are used to pay for the Daviess County Jail. The savings are expected to be around $300,000 a year with lower interest rates with the bonds being paid off in seven years.
Discussion at the meeting considered possibly using the funds in the future help to pay for courthouse improvements including the refurbishing of the Old National Bank building where the county has plans to establish a courthouse annex. That will only happen if the county goes to the Indiana Legislature next session and asks for a special use for another project and the legislature approves. However that would take over a year to implement if approved.
The commissioners passed a resolution to refinance the bonds and the council voted unanimously in formal support of the resolution.