3/14/13 - With millions in debt on the line, the Handy Township is working with the county government to find a solution to its unpaid sewer bonds. The issue was a topic of discussion at yesterdayâs meeting of the county debt management committee. After developers defaulted on sewer assessments, Handy Township was stuck with almost $3 million in bonds, charge-backs, and interest that will come due in 2014. The issue is complicated by several lawsuits involving the township, the county, the developer, a construction company, a bonding company, and several Handy Township residents. The townshipâs debt is backed by the county and defaulting on it would damage the countyâs triple-A credit rating. Part of yesterdayâs talk included discussion of a millage to help raise the revenue needed to pay off the bonds that are going unpaid due to the lack of development. Vaupel says it is too early to say how the municipalities will handle the issue, especially with the ongoing litigation. (TD)
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