‘Insolvent’ county tacks on new tax
Tunica County plans to borrow up to $3 million to meet a current shortfall in its general fund. Supervisors had voted previously to pursue such a loan, but on Monday, Feb. 3, the Board tacked on a new twist – repaying that loan with a 5 mill tax levy for three years.
District 4 supervisor Henry Nickson put forward and District 3’s Phillis Williams seconded a motion to “consider a tax levy to cover the shortfall loan, if necessary.” The Board passed the motion on a 4-1 vote, with District 2’s Cedric Burnett the dissenting vote.
Earlier in the discussion, county administrator Michael Thompson told the board that Tunica County was “insolvent” after the general fund balance dipped to negative $1.75 million in December. Thompson said the general fund had “borrowed” from the separate road department fund to cover the December overdraft but did not recommend continuing that practice.