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La Porte eyes borrowing to fix things

Tuesday, November 06, 2012 06:19 AM
Written by Stan Maddux
Category: Local News
The City of La Porte is looking to borrow money to fix up city hall and

do other work.

Last night...the city council was asked to approve an over 4.7 million dollar

bond issue.

The borrowed funds would toward things like renovating  city hall...

facility improvements at the city's maintenance building....fixing city streets and

sidewalks.

The bonds would be retired over a 20 year period.

Todd Samuelson is with a private financial planning firm working for the city.

He said there would be no increase in property taxes.

That's because other bond issues the city is paying on right now....will be

paid off in in the years to come.

The city council gave preliminary approval of the bond issue last night.

A final vote is expected at the city council meeting on December 3rd.