Council approves NCA bond authorization, says city not liable for repayment
Council adopted an ordinance authorizing the Mount Vernon New Community Authority to issue up to $3 million in infrastructure revenue bonds and approved related cooperative documents.
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Mount Vernon’s City Council adopted ordinance 2025‑27 authorizing the Mount Vernon New Community Authority (NCA) to issue tax‑exempt special‑obligation public infrastructure revenue bonds in a maximum authorized amount of $3,000,000 and approving a cooperative agreement and related documents to release TIF funds to pay for infrastructure.
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