Gary Huddles, the Baltimore County councilman who received a $60,000 loan arranged by Old Court Savings and Loan Association president Jeffrey Levitt three years ago, paid off the debt with interest yesterday.
Huddles, who acknowledged Thursday that he had not made any payments on the loan, said yesterday that he paid $85,000 to retire the debt. The loan originally came from a subsidiary of the First Progressive Savings and Loan Association in 1982, which was later merged into Old Court. Management problems at Old Court sparked a Maryland savings and loan industry crisis in May.
The 15-year veteran of the Baltimore County Council did not disclose yesterday how he had paid off the debt, although he said he did not require another loan to do it.
Huddles has asked the county's ethics commission for a ruling on whether the loan should have been listed on the annual financial disclosure form he must file as a public official. Although Huddles said the loan was listed as a second mortgage loan on the thrift's records -- a type of debt that must be disclosed -- it was never formally recorded in county land records.
Huddles' councilmanic district encompasses the Randallstown branch of Old Court that was hit by a heavy run on deposits in May.