Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Crafton bond fund to back $8M in projects; Crafton Boulevard grant pending, bond arbitrage rule flagged
Summary
Staff updated the bond tracking sheet to August and said the bond fund will be drawn down by planned projects; staff applied for a Crafton Boulevard streetscaping grant and cautioned that an IRS-style bond arbitrage payback (1.45% threshold) may require a roughly $70,000 rebate next year.
Borough staff told council the bond tracking sheet is reconciled through August, aside from a $3,700 timing discrepancy, and the bond fund will finance about $8 million in infrastructure projects scheduled over the coming year.
Staff said committed and completed projects would leave about $1.4 million in the bond fund by the end of next year. If the borough…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
