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Council authorizes bond issuance to accelerate road work; vote splits 6–3
Summary
The Hammond Common Council approved Ordinance 25-09 to authorize bonds for street and road projects, a measure supporters said would allow $1.2 million in road work this year but opponents warned about interest and issuance fees.
The Hammond Common Council approved an ordinance authorizing issuance and sale of bonds to finance street and road projects (Ordinance 25-09) after debate over timing, cost and the tradeoffs of borrowing for near-term paving.
In discussion Mayor Tom McDermott summarized choices before the council: “If you vote against this, you're saying you don't want any road work to be done this year on the roads with this money,” and said the measure would allow about…
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