MEMPHIS, Tenn. — The small town of Mason, Tennessee has announced it's now debt free.
Earlier this year, the state comptroller intervened when he learned Mason's finances were handled so poorly that $550,000 were unaccounted for.
The town's vice mayor said not only is that debt paid off, but systems are in place to keep this from happening again.
"We don't want to go through this anymore going forward. We do have everything for the cash reserve to be increased and be what we would need to rely on in the future," Virginia Rivers, the vice mayor of Mason, said.
Rivers wasn't in office when the city funds were misspent. That happened under a previous administration.
Mason said its financial house is in order as it gets ready for a business boom with the new Ford truck plant being built nearby in Haywood County.