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Newton to seek $1.78 million in financing; public hearing set for Jan. 5
Summary
Finance Director Vickie Thomas told council the city plans to seek quotes to finance $1,780,600 in infrastructure and equipment; council unanimously authorized filing with the North Carolina Local Government Commission and set a Jan. 5 public hearing.
The Newton City Council on Nov. 24 unanimously authorized staff to apply to the North Carolina Local Government Commission for financing and scheduled a public hearing for Jan. 5, 2021.
Finance Director Vickie Thomas said the city planned to borrow an estimated $1,780,600 to finance multiple capital needs identified in the FY2021 budget. She listed the principal estimated projects:…
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