Is Delaware County government a bad investment? Bank of America thinks so

(Muncie) Star Press

Saturday, December 26, 2009 5:43 AM

By Nick Werner, Star Press

nwerner@muncie.gannett.com

MUNCIE -- Bad press surrounding the financial future of local government is making it difficult for Delaware County to borrow money.

In an e-mail this week to county Treasurer John Dorer, Bank of America's government banking division declined to lend Delaware County $10.5 million needed to pay back another debt and stay in business.

The e-mail expressed concern that Delaware County was a risky investment, citing several key points, including recent publicity surrounding the financial difficulties facing both county and city government.

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Editor, John C. DePrez Jr.; Executive Editor, Carol Rogers; Publishers: IBRC and IAR