Warren council OKs borrowing $9.5M
Staff report
WARREN
City council approved resolutions Wednesday authorizing the borrowing of $9.5 million through the issuance of bonds.
They are $3 million repaid over 20 years to purchase a building to house the health department, community-development department and income-tax department; $4 million repaid over 15 years to renovate existing buildings; and $2.5 million repaid over 10 years to improve streets.
Mayor Doug Franklin said afterward he doesn’t believe he ever has seen any type of legislation so thoroughly debated and vetted during his 25 years in government as these measures.
Officials have said they still are in negotiations for acquisition of a building and are not prepared to identify it yet.