The newly-formed South Hopkins Environmental Authority plans to seek up to three million dollars to buy the Nortonville Wastewater Treatment Plant to relieve the financial burden on the city of Nortonville. City officials have been unable to pay back their debt on the plant, which serves around 12-hundred households in Nortonville, White Plains and Mortons Gap.
The Kentucky Agricultural Finance Corporation has approved more than $400,000 in loans to farmers to expand their operations. The agency partners with lenders to help farmers finance projects that would increase their profits. The Kentucky Department of Agriculture announced the latest round of loans Monday. The largest loan topped $110,000. The finance corporation also has a beginning farmer loan program that helps people start or expand a farming operation. Those loans can be used to purchase livestock, equipment and land.
A new report says college students in America are a trillion dollars in debt. Kentucky has seen a similar increase where annual student-debt climbed from $324 million in 1999 to almost $1.2 billion a decade later. Erin Klarer, who’s a vice president with Kentucky Higher Education Assistance Authority, still says taking on such debt can sometimes be the right choice.
“You know we don’t want to blanket that all debt is bad but we do at KHEAA we want to encourage responsible borrowing,” said Klarer.
The Hopkins County-Madisonville Public Library's financial challenges continue as its board asks the County and the city of Madisonville to help finance a loan to renovate its downtown location. The board estimates the renovations to cost $672,000 and wants the city and county to pay $38,000 a piece annually for the ten year life of the loan.The Library has faced other financial challeges including a nearly 20 percent budget cut imposed by the city last summer. The board hopes to receive this funding to move the library back to its original main street location.
US Senator Rand Paul says the federal energy department should stop its loan guarantee program for companies developing alternative energy products. The Kentucky Republican told Energy Secretary Steven Chu Tuesday some of the loans have gone to wealthy friends of President Obama and that raises questions about the whole program.