Hancock County To Contract With Adviser To Look At Debt Management Options

4/4/19 – 11:32 A.M.

Hancock County is bringing in an adviser to help explore options for debt management. The commissioners voted 2-1 Thursday to contract with a municipal adviser. Auditor Charity Rauschenberg explained why she requested the adviser

Commissioner Mark Gazarek voted against the measure. He said the county needs to stop financing so much and focus on paying cash for projects

Commissioner Brian Robertson voted in favor, saying that it makes sense to bring in outside guidance on the issue. Commissioner Tim Bechtol also voted in favor.

The county will pay the adviser a percentage of any debt they decide to take out to pay for the jail expansion and the construction of a new juvenile and probate court building. They would use money from a quarter percent sales tax to pay back the debt.

Gazarek says they have three years before theyre ready to build, so they should save the money and pay cash when its time for construction.

Rauschenberg says the move gives them an expert on finance and debt limitations. She adds that Hancock County is unique in that the auditors office handles debt issues rather than the commissioners themselves. She says less than five of Ohios counties handle their debt management that way.