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City of Thorp Approved for Loans from Board of Commissioners of Public Land
Wednesday, December 4th, 2013 -- 9:02 am
Posted by Riley Hebert-News Director

-The City of Thorp has been approved for loans totaling close to $770,000.

The Board of Commissioners of Public Lands approved three State Trust Fund Loans totaling $769,575.68 to finance street and park maintenance and refinance two BCPL State Trust Fund Loans.

Thorp received $725,000 to finance street and park maintenance, $36,729.39 to refinance a BCPL Loan and $7,846.32 to refinance another BCPL Loan.

With income generated by State Trust Fund Loans, and not a single taxpayer dollar, the BCPL provides all of the state’s financial aid to public elementary, middle and high school libraries; $30.1 million in 2013, alone.

State Trust Fund Loan monies come from the principal of the state’s Common School Fund enhanced by revenue generated by fees, fines, forfeitures, unclaimed property and timber sales.

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