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.