Lincoln County Commissioners secured a $6 million loan during their December 18 meeting that will cover costs in the 2013 budget before tax revenue comes in. 

Obtained through Bath Savings Institution, the tax anticipation loan acts more like a line of credit for the county, at an interest rate of 0.79 percent. Also called a Tax Anticipation Note in some county and municipal governments, the same rate applies whether the county withdraws the funds incrementally or in one lump sum.

Other banks that submitted tax anticipation bids to the county were the Bank of Maine, The First and Camden National. Commissioner William Blodgett thanked three representatives from the Bank of Maine for submitting a bid and for participating in the meeting. 

As the line of credit operates as a buffer against costs in upcoming months, some changes will reduce the impact of county taxes to towns.

The $10.2 million tax commitment projected for Lincoln County's 2013 budget will change slightly as final adjustments are made, according to County Administrator John O'Connell. 

These adjustments include labor negotiations with the Sheriff's Department and other financial commitments, such as $2000 for electrical work in the county maintenance budget, an increase in a fund for a county-wide imagery project (from approximately $13,000 to $14,667), and funds for an employee assistance program. 

As staff salaries could increase the budget's impact to taxpayers slightly, department revenues could decrease it.

Commissioners are expected to approve and sign next year's budget on December 27, for a final meeting of the year.

New county commissioners

Swearing in of new Commissioners Hamilton Meserve (District 1) and Mary Trescot (District 3) will take place at the County Commissioners' first meeting of the year, January 2.

Exiting commissioner Sheridan Bond had a parting statement, which he read aloud to those present at Tuesday's meeting.

Going forward, new leaders will have many challenges, he said. He stressed leaders, “put aside selfish ambitions for the benefit of the people, and to leave ego and pride at the door.

“We must strive to be as good as we can be,” he said, in closing, “and to give as much as we are able every single day, for we do not know which one might be our last.”