SCHERERVILLE | Town officials transferred more than $1.2 million out of the wastewater improvement fund Wednesday as temporary loans to eight other town funds.

The amounts varied, including $2,800 to the drainage fund and $570,000 to the building corporation bond fund.

The transfers are necessary because the county hasn't distributed tax funds yet and the town needs to cover its costs, Town Manager Bob Volkmann said.

Because the Utility Board approved the transfer of funds, the town won't have to borrow money and pay interest on it, Clerk-Treasurer Janice Malinowski said.

All of the money will be paid back to the wastewater improvement fund once the town gets its tax money from the county, she said.

Malinowski said she heard that October is the earliest the tax money could be distributed.

"We're tightening our belts now to get us through till the end of the year," she said.

In other business, the Town Council met in a study session Wednesday. A topic of discussion was a review of the town's capital improvement plan.

The town has compiled a list of upcoming capital improvements. House Bill 1001, which goes into effect July 1, requires the town allocate its tax increment financing funds to specific goals or projects, Volkmann said.

Schererville identified those projects, gave an estimated cost and showed how TIF money could help support them. The list is a working tool. The projects and the costs are not set in stone, Volkmann said.

The project list includes a new fire station and several multimillion-dollar road improvements spaced out between 2008 and 2020.

Improvement to St. John Road is on the list. Councilman Tom Schmitt said he is upset that the bid has not been awarded for the project. He said he had hoped the Town Council would award the bid Wednesday night, but its special meeting was canceled, further delaying the much-needed work.