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Port Orchard council OKs ordinance to use state pooled financing to reimburse purchase of 1333 Lloyd Parkway
Summary
The council approved an ordinance authorizing participation in the Washington State Treasurer’s local program to reimburse the general fund for the city’s October purchase of 1333 Lloyd Parkway, with a $2.5 million borrowing over 20 years and an expected interest-rate range of about 3.7%–4.1%.
The Port Orchard City Council approved an ordinance on Dec. 16 authorizing the city to participate in the Washington State Treasurer’s Local Program and to execute documents necessary to finance the October purchase of 1333 Lloyd Parkway.
Noah Crocker, finance staff, told the council the city will borrow $2,500,000…
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