Danielsville has faced bad times financially in recent years. And while the town began the year with roughly $250,000 in reserves, much of that is borrowed money.
Exactly what to do with those borrowed funds remains an issue for the council.
New Danielsville city attorney Dale Perry outlined the city’s loan situation in a March 4 letter to the city council.
“Since I took over as your city attorney in January, I have noticed some confusion and many questions about a government tax exempt loan obtained from BB&T in 2006,” wrote Perry in a letter made available to The Journal by the council March 14.