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Council authorizes RFP for interim financing to bridge PENNVEST loan for wells-and-mains project
Summary
Concord Public Finance recommended refinancing a $1.7M interim note (2022 series C) to a 2026A note and creating a $1.5M drawdown construction loan; council authorized an RFP to banks and will consider ordinance action in March.
Lock Haven's council authorized staff to issue a request for proposals seeking interim financing to bridge the city's wells-and-mains project to a PENNVEST loan, after a presentation by Darryl Peck of Concord Public Finance.
Peck explained that the city's 2022 general obligation bond series C (about $1.7 million) will mature on April 1, 2026, and recommended issuing a 2026A note to extend maturity as late as Aug. 1,…
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