Monday, January 13, 2014

Tribune Reports Seymour Considers Borrowing Money

From the Seymour Tribune:

Only two weeks into the new year, the city is already looking to borrow millions of dollars to pay the bills.

Seymour Common Council will hear first reading tonight of an ordinance to use up to $5 million from the city’s sewer utility fund, if needed, to help cover general fund expenses until June.

That’s when the city and other taxing entities will receive the first of two annual distributions of property tax revenues, said clerk-treasurer Fred Lewis. The second comes at the end of December.