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Riverside approves fourth-quarter supplemental appropriation and authorizes up to $6.1 million in bond anticipation notes
Summary
Council adopted a fourth-quarter supplemental appropriation and unanimously approved an ordinance authorizing up to $6.1 million in bond anticipation notes to renew building-improvement debt; staff said the action is intended to roll debt for another year and reduces outstanding debt roughly 5% under current budget assumptions.
Riverside City Council adopted an ordinance to make fourth-quarter supplemental appropriations and separately approved authority to issue up to $6,100,000 in special-obligation bond anticipation notes for building improvements.
City Manager explained the supplemental contained no substantive changes from the previous meeting and that the debt-authorizing…
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