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Consultant outlines pooled bond plan for borough solar project; council authorizes ordinance advertising
Summary
A Ravenston James representative told council the borough’s planned solar project would be financed through a pooled municipal bond program, with borrowing expected around $1.0 million and a not‑to‑exceed filing near $1.4 million; council authorized advertising the debt ordinance ahead of an Aug. 19 vote.
A consultant representing Ravenston James told the borough council that the planned municipal solar project will be financed through a pooled bond program and that the borough will see the formal ordinance next month.
McKay, introduced to council as a Ravenston James representative, said the borough will borrow through a state pool that combines multiple municipalities’ borrowing to reduce costs. “Debt is debt,” McKay said, summarizing the filing requirement: any local borrowing must be disclosed through the state process and filed with the Department of Community Development (DCD). He said the borough is likely to borrow about $1,000,000 for the…
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