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Low interest rates continue county's investment slide

Saturday, January 26, 2013 - 12:01 am

Continued declines in interest rates continue to weaken Allen County government's bottom line.

County Treasurer Sue Orth reported Friday that the county's investments generated $350,320 in interest in 2012, down from $598,988 in 2011. As recently as 2007, the county had been earning more than $8.4 million in interest annually.

“It's been devastating,” Orth told the County Commissioners in her annual report, noting rate increases are not expected for at least two years.