Politics & Government
Nazareth Borrowing $5.5 Million for Pool Project
The Nazareth Borough Council approved a motion allowing the borough to borrow $5.5 million for a new pool and fire truck.
Nazareth is seeking a shot of income.
With a new pool to pay for, the Nazareth Borough Council approved a motion authorizing the preparation of a financial transcript and ordinance to borrow $5.5 million.
"It's a line of credit up to that amount," Council President Dan Chiavaroli said. "It's to utilize on projects, primarily for the pool."
Officials said the purpose of the borrowing is to refinance existing debt and to provide for the construction of a new pool and bathhouse, the purchase of a fire truck and site improvements at 134 S. Main St.
VALCO Capital and Attorney Thomas Smida of Mette, Evans & Woodside are to prepare the paperwork.
The Borough Council approved the motion at its June 3 regular meeting.
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