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Council approves two interim financing notes to refund 2022 debt and fund water project
Summary
On second reading the Lock Haven City Council approved Ordinance 2026-03 to issue a $1.7 million Series A fixed-rate note to refund a 2022 bond and a $1.5 million Series B tax-exempt drawdown note to finance current wells-and-mains project; M&T Bank was named as proposer.
The Lock Haven City Council on March 2 approved Ordinance 2026-03 on second reading, authorizing two general-obligation interim financing notes to manage near-term cash flow for debt refunding and an ongoing water infrastructure project.
Daryl Peck, the city's finance presenter, summarized the solicitation results: a Series A note for $1,700,000 to refund a 2022 C note and a Series B drawdown note for $1,500,000 to support the wells-and-mains project. Peck said M&T Bank offered the lowest fixed rate for…
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