Knox City Council Approves Temporary Park Loan Resolution

The Knox City Council considered a resolution that would authorize a temporary park loan when members met last week.

According to Clerk-Treasurer Jeff Houston, the Parks and Recreation fund has about $2,000 remaining and end-of-year expenses will apparently exceed the cost of what’s available.  

Houston told city council members what the resolution entailed, noting that it would authorize $10,000 to be taken out of the Park Capital Improvement Fund and loaned to the Parks and Recreation Fund.

Houston added that the Park Capital Improvement Fund has about $16,000 in it so funds are sufficient to allow for the temporary loan.

He emphasized why the loan was being requested, “The problem that we run into is that a lot of the revenue goes into the Park Capital Fund so it kind of squeezes the regular Park and Rec Fund but we are improving from last year. Last year, we had to make a $15,000, this year it was $10,000.”

Houston added that the resolution states the loan must be paid back by the end of the year unless there is an emergency. If there is an emergency, then a six-month extension could be considered.

However, Clerk-Treasurer Houston explained that a tax distribution will be coming in during the month of December and that can be utilized to help pay back the loan so he expects it to be paid back prior to 2020.

Members approved the temporary park loan resolution with a unanimous vote.