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> LP County made $4.5 in interest
Southsider2k12
post Jan 18 2007, 07:20 AM
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http://www.michigancityin.com/articles/200.../17/news/n2.txt

QUOTE
County makes $4.5M from interest

By Laurie Wink, The News-Dispatch

LaPORTE - LaPorte County gained nearly $4.5 million from interest on investments made in 2006 according to a report presented by county Treasurer Kenneth Layton to the LaPorte County Commissioners on Tuesday morning.

Following the board's acceptance of the financial report, Commission President Barbara Huston praised Layton and his staff on their efforts to bring more than $7 million into county coffers over the last two years. Layton said the results were from a more aggressive investment approach that sought competitive interest rate bids from 11 local and state financial institutions, rather than the five used in 2005 and 2006.

“We broadened our scope and got financial institutions competing against each other,” Layton said. “It's very fulfilling to watch one bank compete against another for LaPorte's money.”

Also on Tuesday, commissioners approved the final plat for the 89-lot Scipio Sunrise subdivision being developed by Lou DeYoung at County Roads 75 West and 400 South, but asked DeYoung to post a $208,000 performance bond to ensure roads, signage and drainage are constructed according to county specifications.

Before building permits are issued, the developer also agreed to make on-site retention and detention ponds deeper. In addition, silt fences will be added as each house is constructed.

Commissioners approved expenditures of up to $2 million for remodeling the former museum space in the county annex to house the E-911 operation. Commissioner Bill Hager moved to declare the project an emergency to speed the request to the County Council for immediate approval.

The remodeling project was awarded to dh2w of Michigan City.

In other action Tuesday:

€ Commissioners approved two requests for Community Capital Development Funds. A $300,000 request from Sheriff Mike Mollenhauer was approved to buy 16 squad cars, and a $28,081 request from Tim Morgan, superintendent of LaPorte County Parks, was approved to buy computer equipment, a copier and a small truck. In addition, a request for $500 from the LaPorte County Convention and Visitors Bureau to help fund the Fish Lake Festival and Bike Ride was approved.

€ Commissioners appointed Dean Uminski of Long Beach to replace Beverly Parrett on the Property Tax Assessment Board of Appeals.

€ Commissioners held a 5 p.m. public information meeting about the jointly funded project involving the county and the Northern Indiana Commuter Transportation District (NICTD) to reconstruct railroad bridges on County Roads 200 East and 300 East. According to county highway engineer Rick McVay, the project will cost $3 million, with $500,000 coming from federal funds. McVay did not anticipate opposition at the public hearing, which is the last step before DLZ, a South Bend engineering firm, goes forward with the bridge reconstruction.


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