A live stream of the ongoing manhunt for the suspected Boston Marathon bomber.
- Tribune-Democrat News Slideshow
- Latest News
- Local News
County to refinance $19M in debt, assume $5 million loan to avoid default
The Cambria County commissioners announced Thursday that a secured bank deal, taking effect at the start of 2014, would refinance $19 million in debt over the next 15 years and allow the county to assume a new $5 million loan, to be paid over the next eight years. The commissioners believe it will partially rectify the county’s cash crisis.
Citing persistent, yearly shortfalls and unresolved disagreements over county spending measures, Cambria County Controller Ed Cernic Jr. said that county budgeteers are simply “kicking the can down the road.”
- Scores turn out to revisit history
- Child abuse reforms taking center stage
- Elk on the clock
- River in running for state title
- County to refinance $19M in debt, assume $5 million loan to avoid default