Newberry County is looking at a creative way to borrow funding that will not impact its debt limit.
The council has given the second of three readings to create Newberry Public Facilities Corporation.
The entity would be owned by the county but would be able to borrow funds for the new public works complex.
The money to build the facility is currently in the county’s coffers but the county leaders are concerned they many need to free up the cash to help pay for the new spec building being considered for the Mid-Carolina Commerce Park.
Currently Santee Cooper with the blessings of Newberry Electric Cooperative are will fund much of the capital with the county only paying the interest for the spec building.
But the ability for the Newberry Public Facilities Corporation to borrow money could free up the cash if needed.
However, a third reading on creating the new entity will be delayed until the money is needed.
This means the third and final reading could be several months or longer away.