November 20, 2008

Madison County to borrow $5 million

During a time when landing a loan seems close to impossible, Madison County has secured a $5 million line of credit toward its courthouse renovation project. Officials recently approved a resolution to go forward with borrowing the money through a commercial paper loan program offered by the Virginia Association of Counties and the Virginia Municipal League finance program.


August 22, 2008

County to borrow $5 million

Earlier this summer, workers began carefully dismantling sections of the Madison County Courthouse in preparation for its long-anticipated renovation.
As the second phase of the project gets under way, officials are figuring out the details of a $5 million loan to pay for part of the county’s $6.97 million contract with Warren Flynn Construction Company Inc. of Fredericksburg, the contractor of the project, which aims to improve safety and security within the 1830s-era structure.

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