Boardman borrows money for first time
BOARDMAN — It was a first for the township: borrowing money to get through the first quarter of the year.
Trustees voted 2-1 at an emergency meeting Thursday to borrow $3 million through a 90-day note from National City Bank. Trustee Kathy Miller voted against the motion with Trustees Larry Moliterno and Robyn Gallitto supporting it.
“Back in February, we talked about having to borrow money to get through the first quarter of this year,” said Moliterno, trustees chairman.
“We have known for a year that we would have to borrow money,” said William Leicht, township fiscal officer. “This is the first time that Boardman has had to borrow money” to get through a year’s first quarter.
It will likely be an annual occurrence, he said.
Read more in Friday’s Vindicator and Vindy.com