MCEDA wants debt limit increased
MCEDA, the Madison County Economic Development Authority, is seeking legislation to remove its debt limit and has also gotten approval from the Madison County Board of Supervisors to issue up to $10 million worth of bonds.
Currently, state statute has MCEDA’s debt limit set at $12 million.
“You really don’t need a debt limit. We don’t issue the bonds. The county issues the bonds, so we’re always going to be limited by the county’s debt limit,” said MCEDA Executive Director Tim Coursey.