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Council declines to introduce $3M reimbursement resolution tied to potential Fidelity Bank purchase
Summary
Councilors debated and then voted down introduction of a resolution authorizing the city to reimburse itself up to $3 million with nontaxable debt for capital projects — a measure councilors connected to a potential purchase of the Fidelity Bank building; the underlying purchase ordinance is expected on next week's agenda.
Scranton — A proposed resolution meant to prepare the city to reimburse capital expenditures with nontaxable debt — a step administration said would align borrowing with a prospective Fidelity Bank building purchase — failed to be introduced Tuesday after council debate.
The resolution (item 5f) would have authorized the city to reimburse itself “in the amount not to exceed $3,000,000 for expenditures paid by the city from its general fund in connection…
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