Lake Local School to borrow half a million dollars
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Voters said yes to a levy for Lake Local Schools back in August, but the district says it's in need of money right now.
District Treasurer Jeff Carpenter says the district will not see any of the levy money until February and they need the cash now.
Thursday night, the board approved a resolution allowing the treasurer to borrow half a million dollars.
The money will help the district meet payroll and cash flow needs through the end of 2012. Carpenter says the district will start to pay the loan back in February.
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