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Redevelopment Authority approves conduit financing resolution for Scranton Catholic School System
Summary
The Redevelopment Authority of Lackawanna County voted to approve Resolution 11 50-25, authorizing conduit, tax-exempt financing for the Scranton Catholic School System; the authority will have no repayment obligation and further approvals and a public hearing are required before closing.
The Redevelopment Authority of Lackawanna County approved Resolution 11 50-25 on a voice vote during a rescheduled regular meeting, authorizing the authority to act as a conduit issuer to enable tax-exempt financing for projects of the Scranton Catholic School System.
Attorney Brian Kosolinski of Stevens & Lee told the authority the structure mirrors a recent county transaction and places no financial obligation on the authority. “There’s no obligation on the authority. There’s no payments ever to be…
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