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Back to Home > News > Saturday, Apr 07, 2007 Local Posted on Sat, Apr. 07, 2007 email this print ... County hot to save cool mi

Submitted by admin on Sat, 2007-04-07 10:00.

Allen County officials expect to save $1 million by refinancing the bond that officials took out to pay for the renovation and expansion of Memorial Coliseum.

The savings come by issuing a new bond at a lower interest rate. The new bond will cover the same time period, but the county will pay smaller installments, Fishering said.

Money from the food and beverage tax as well as state sales and income taxes from the sports and convention zone will pay off the bond, Fishering said.

The $34.5 million renovation and expansion of the Coliseum was completed in 2002. The project raised the roof more than 41 feet and added seats inside the ice arena.

In other news, the commissioners approved a contract with Fidlar Software to replace the land records system in the Allen County Recorder's Office.

The county will pay $107,000 over three years for the new software, tech support and updates. The new system will allow the county to comply with a state law requiring Social Security numbers to be automatically redacted from any documents in the collection to prevent identity theft. The improvements will also include Internet access to the 1.6 million documents in the county's collection, Recorder John McGauley said.

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