Cannelton schools 'running short of funds'

Superintendent works to spread debt payments over years

CANNELTON - "We are running short of funds," Cannelton Superintendent of Schools Al Chapman said Wednesday. "We're trying to work it out with the bank."

The bank, specifically German American Bancorp., doing business as First State Bank, filed a complaint with the Perry County Court Tuesday seeking repayment of $900,000 borrowed since January 2007.

Chapman said the school corporation had just received a tax draw, but owes banks $1.5 million. "We're working to resolve that," he said.

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