City Seeks $29M In Bonds To Finish Projects
By: WROC-TV
Updated: December 3, 2012
There is new legislation that, if approved, will give the city the funding it needs to finish up projects related to its infrastructure.
Mayor Tom Richards has submitted legislation to City Council that calls for over $29 million in bonds to wrap up various municipal and street projects. If approved, the city would use the money over the next three years to finish construction on Manhattan Square Park, repair and resurface various roadways and demolish vacant buildings. Mayor Richards says now is the optimal time to borrow because of the city's good credit rating and low interest rates.
The legislation will be voted on at City Council's December meeting.
Mayor Tom Richards has submitted legislation to City Council that calls for over $29 million in bonds to wrap up various municipal and street projects. If approved, the city would use the money over the next three years to finish construction on Manhattan Square Park, repair and resurface various roadways and demolish vacant buildings. Mayor Richards says now is the optimal time to borrow because of the city's good credit rating and low interest rates.
The legislation will be voted on at City Council's December meeting.
