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Lock Haven council advances debt ordinance to finance water-system projects
Summary
Council heard a second reading of a debt ordinance authorizing two notes — Series A ($2,000,003.24) for city-only water projects and Series B ($1,326,000) shared with regional water authorities — with Kish Bank identified as the lowest-cost proposal and a projected budget impact beginning in 2025.
Lock Haven — The city held a second reading and moved forward on a debt ordinance to issue two drawdown notes to finance water-system improvements and related refinancing.
A city finance presenter told the council the proposal splits borrowing into a Series A note totaling $2,000,003.24 to cover city-only projects (wellfield land, easements, Zindel Park bridge engineering and construction) and a Series B note of $1,326,000 to be shared with the Central Clinton County Water Filtration Authority and the Suburban Lock Haven Water Authority. The presenter said the city solicited offers from 33 banks; Kish Bank provided the most…
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