City leaders consider loan rules

Councilman wants tighter controls

CANNELTON - Cannelton needs to implement rules for people borrowing city money to start or boost their businesses, Councilman Adam Goffinet suggested at a March 10 meeting of the city council. The issue arose again at an April 14 meeting.

"Adam presented this some time ago," city attorney Chris Goffinet said. "We don't have guidelines (specifying) under what rules do we loan money, when do we expect it to be repaid and so on."

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