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RSSBennington Borrows $5 Million For Flood Recovery
Thursday, 09/15/11 6:06am
The Associated Press
Bennington is borrowing up to $5 million to help pay the cost of recovering from flooding caused by Tropical Storm Irene.
Town Manager Stuart Hurd says the money should cover immediate bills for repairs to the town's water system and roads and cleaning rivers of debris.
Hurd says the line of credit is good for one year. If the town needs more money voters will have to approve the expenditures.
Bennington County has been declared a disaster area by President Barack Obama. The federal government will reimburse 75 percent of recovery costs and the state would cover an additional 12.5 percent.
The Bennington Banner says Hurd told the board officials are working to ensure all flood-related expenses are documented.
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