Council Approves Bond Issue
Bradford City Council has approved a bond issue that will go toward a street restoration project and improvements to several city buildings.
The new borrowing is $5.2 million. At the last city council meeting, when the measure was passed on first reading, council explained that the ordinance as it read then also included refinancing of the city’s 2008 bonds, which would have brought the amount up to $7.4. At that time they said they would not know until today if refinancing of the 2008 bonds was feasible.
The city’s millage rate will go up by about 2 mils, but no tax increase is expected.
$2 million of the money will go toward street restoration projects. Also, improvements will be made to several municipal buildings, including the fire station, and the ice skating rink floor will be replaced.
Council approved the measure in a special meeting at 7 a.m. today.
The news leader of the Twin Tiers ...
since 1947
The new borrowing is $5.2 million. At the last city council meeting, when the measure was passed on first reading, council explained that the ordinance as it read then also included refinancing of the city’s 2008 bonds, which would have brought the amount up to $7.4. At that time they said they would not know until today if refinancing of the 2008 bonds was feasible.
The city’s millage rate will go up by about 2 mils, but no tax increase is expected.
$2 million of the money will go toward street restoration projects. Also, improvements will be made to several municipal buildings, including the fire station, and the ice skating rink floor will be replaced.
Council approved the measure in a special meeting at 7 a.m. today.
The news leader of the Twin Tiers ...since 1947
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