Jan 15, 2011 By Josh Krysak 1 min read

Fayette County commissioners agreed Friday to borrow $4 million to get the county through the more lean months before tax revenues start to flow in. The commissioners voted unanimously to take out the tax anticipation note with Parkvale Bank of Masontown.

The note includes an interest rate of 1.43 percent, and was the lowest bid the county received.

The move by the commissioners Friday to pass the anticipation note is a common practice by local and state governments to maintain a balanced budget by securing projected tax revenues prior to their collection.

In a split vote last month, the commissioners adopted a 2011 general fund budget that holds the line on property taxes, includes a 3 percent pay raise for non-union county employees and uses more than $950,000 of the county surplus.

Voting in favor of the spending package were Chairman Vincent Zapotosky and Commissioner Vincent A. Vicites. Commissioner Angela M. Zimmerlink voted against.

The budget includes revenue of $23,598,130, expenditures of $24,620,073, including transfers, and uses $951,943 of the county’s surplus.

The millage rate will remain the same at 3.514 mills.