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Lackawanna County approves short-term borrowing, $5 million line of credit amid state budget impasse
Summary
Lackawanna County commissioners voted Nov. 5 to authorize short‑term borrowing — including a $15 million tax‑and‑revenue anticipation note and a federally taxable revolving line of credit of up to $5 million — to protect county services while a state budget remains unsettled.
Lackawanna County commissioners voted Nov. 5 to authorize short-term borrowing to cover potential cash-flow shortfalls while the Commonwealth of Pennsylvania remains without an enacted budget.
The board approved an ordinance authorizing issuance of tax and revenue anticipation notes for series 2026 with a principal amount not to exceed $15 million. County staff described the instrument as a typical cash‑flow borrowing that would mature at year end and provide funds until property tax and other revenues begin to flow.
The board also adopted Resolution 25‑0263 to authorize a federally taxable revolving line of credit with Fidelity Deposit & Discount Bank in Dunmore for a principal amount not to exceed $5,000,000. County counsel/finance staff said the line is intended as a short‑term safety net, maturing in April, to cover payrolls and health & human…
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