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Slatington weighs bond program to fund Shadow Oaks Lane repaving
Summary
Councilors authorized Transcend Finance to develop a long-term capital plan and discussed issuing a bond in 2027 to pay for extensive repaving needs on Shadow Oaks Lane; staff said timely completion of audits will be required before issuing bonds.
Councilors discussed long-term financing options for repaving Shadow Oaks Lane and other infrastructure needs.
Councilor David Schnaars said the Borough approved a paving study and contracted with Transcend Finance to produce a long-term capital and financing plan. Given the amount of work anticipated, the Committee considered issuing an initial bond in 2027 and alternating bond issuances in subsequent years to fund extensive repairs. Manager Hambrecht said the Borough's auditors expect to complete the 2024 audit the first week of August and the 2025 audit by the end of the calendar year; those audits would allow the Borough to move forward with bond issuances in 2027.
Ending: The Committee asked staff and Transcend Finance to continue developing the capital plan and to return with timelines and financing scenarios for Council consideration prior to any bond authorization.
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