Council discusses borrowing ordinance; final terms to be set before second reading
Council reviewed Ordinance 2023-05, the borrowing ordinance for Series A and B notes, heard that bond counsel will attend the second reading and was told that payment schedules and annual payment amounts remain to be finalized.
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Lock Haven City Council discussed Ordinance 2023-05, the borrowing ordinance authorizing Series A and B notes, but did not adopt it at this meeting. Staff said Concord Public Finance ran the bidding process and reported competitive rates; the borrowing-rate range for the A notes was presented as 4.733% to 7.229%, with a similar spread for the B notes. Bond counsel "Jen Karen" from Eckerd Siemens and staff member Daryl Peck are expected to attend the second reading and the final adoption.
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