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Council leaves $7.2M bond ordinance on second reading, debates combining notes for park and Norfolk Southern trail
Summary
Council discussed debt issuance for Solon Community Park and the Norfolk Southern Headwaters Connector Trail, agreed to leave the $7.2 million ordinance on second reading and flagged administration follow-up on total debt exposure and potential combining of notes.
The Solon City Council on Monday left in place an ordinance authorizing up to $7.2 million in bond anticipation notes for improvements to recreational facilities, including Phase 2 of the Solon Community Park, and engaged in a broad discussion about the city's overall borrowing strategy. Councilmembers also heard a separate first-reading ordinance authorizing up to $6 million in notes for the Norfolk Southern Headwaters Connector Trail and discussed whether the city should combine borrowing for efficiency. Why it matters: The proposed…
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