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Wilkes-Barre council approves consent agenda including $3 million tax anticipation note and intermunicipal emergency services agreement
Summary
On Dec. 11 the Wilkes-Barre City Council approved a consent agenda that included appointing David Wilson to the Parking Authority, authorizing a $3,000,000 tax anticipation note with Fidelity Bank at 3.5% for one year, and authorizing the mayor to execute articles of agreement to join the Luzerne County Emergency Services Commission.
Wilkes-Barre — The City Council on Dec. 11 approved a consent agenda that included the appointment of David Wilson to the Wilkes-Barre Parking Authority, authorization to seek a $3,000,000 tax anticipation note (TAN) and authorization for the mayor to execute articles of agreement to join the Luzerne County Emergency Services Commission.
Administrator Charles McCormack said the TAN is intended to provide short-term cash flow coverage until tax receipts arrive in early February. "Cash flow to pay bills," McCormack said, describing the TAN as a one-year instrument; he told council…
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