Debt A Necessary Thing For Governments

Putnam County is some $180 million in debt.

That’s the reason some Putnam commissioners voted against buying property in Baxter to host the county fair.

Putnam County Executive Randy Porter said three years ago, the county’s debt was up over $200 million.

“Since I’ve been in office we haven’t issued any more debt, but we’re paying it off. We have a good debt service fund, it’s    locked in, the bonds are locked in, we’re paying it off. About 95 percent of the money is for where new schools were built,”           Porter said.

He said debt is a fact of life for a growing county.

“I don’t like debt, but there’s almost no way for a county to keep up, especially one that’s growing like we are, without having debt. It’s kinda like your home, will you ever have a home if you don’t have a mortgage to pay?”

Porter said the county’s $140 million in debt, not including interest.