Lowe is first recipient of local stimulus funds, "Negative Loan Plan"

Knox County Law Director Bill Lockett announced earlier today the formation of a local stimulus plan which could inject thousands into the slow economy. Former Knox County Trustee Mike Lowe is the first recipient.

"The formal name is the 'Negative Loan Program,'" Lockett explained. "Mr. Lowe 'borrowed' about $22,000 in vacation pay before he left office. We're asking for only $3,000 in return."

Asked for comment, Lowe said, "Boy, howdy. I'm not sure what a 'de facto' trustee is, but if Bill Lockett and the Supreme Court said I is one I'll take it."

An informal version of the "Negative Loan Program" has been used at least once before in Knox County. Last year, disputed p-card charges in Mayor Mike Ragsdale's office were pared down from about $40,000 to a fraction of the original "loan."

Lockett said his office will begin accepting additional negative loan applications as early as next week. He has already received inquiries from former trustee's office employee John Haun's attorney.

"We hope this program will kick-start the economy," Lockett said. 

Comments

[Builder]

Devaluing the tax payer’s money through deregulation.

[wildcard]

And now we know exactly why Mr. Lockett is the best person to evaluate applications for the Negative Loan Program!