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Council unanimously authorized hiring bond counsel and an underwriter to help evaluate and prepare a potential approximately $8 million general obligation debt issue for capital projects, debt restructuring, and issuance costs. Council also unanimously approved a final cable franchise agreement with Verizon Pennsylvania, LLC.
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The debt action starts the process of evaluating and preparing a possible approximately $8 million borrowing; it does not itself authorize issuing the debt. The borrowing could support city capital projects, restructure existing debt, and cover financing costs. Council also approved the agreement governing Verizon Pennsylvania, LLC’s operation and maintenance of a cable television system and related services.
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