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Oak Ridge council approves TEFRA resolution allowing housing authority bond issuance
Summary
The council voted unanimously to approve a Tax Equity and Fiscal Responsibility Act (TEFRA) resolution backing bonds to finance construction and rehabilitation of the Oak Ridge redevelopment multifamily housing project; city says it will carry no obligation for the bonds.
The Oak Ridge City Council on Thursday approved a resolution under the Tax Equity and Fiscal Responsibility Act allowing the Oak Ridge Housing Authority to issue bonds to finance construction and rehabilitation of a multifamily redevelopment project.
The vote was 7-0. The council’s action is an approval required under TEFRA and does not create a city obligation for…
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