STANFORD - A veteran's memorial park project the county hoped to build using grant money will now be financed through a $2 million bond, fiscal court magistrates said at this week's meeting.
The park is located on 83 acres on the corner of Goshen and U.S. 150. Fiscal Court Judge-executive R.W. "Buckwheat" Gilbert said he had hoped to pay for the construction of the soccer field and little league diamonds through state or federal grants, but with the budget still in the works, the county decided to start the project alone.
The county will bond $2 million at 4.29 percent for the next 30 years, said Treasurer Teresa Padgett. The bond will cover expenses incurred on Phase One of the project, said Gilbert, planed for completion in April.
Costs of maintenance will be minimized with the use of inmate labor, with the entire project expected to come in around $5.5 or $6 million.