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The Finance Committee recommended approval of an ordinance authorizing up to $73,561,499 in general obligation bonds, bond anticipation notes, and refunding bonds to finance and refinance capital projects.
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The recommendation would allow the City of Annapolis to borrow up to about $73.6 million for capital projects and refinancing existing bonds. The committee also favorably recommended four supplemental appropriations, including grants and capital and reserve funding. No action was taken on a proposal to expand the Financial Advisory Commission’s spending-affordability duties.
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