FORT WAYNE, Ind. (WOWO): The Allen County Council is still dealing with the costs of the Maplecrest Road and bridge extension years after it was built.
The council wants to refinance and extend the sunset clause for the bridge bond until 2029, according to the Journal-Gazette. It would allow the county to save about $1 million through lower bond interest rates.
However, doing so would also mean the extension of the county wheel tax that’s attached to the bond. That tax is scheduled to expire next year.
And if that tax is allowed to expire, the rating for the bond would be hurt because of uncertainty about repayment, and would mean less savings for the county.
The council will investigate the issue at a future meeting.