Paterson council gives preliminary approval to $10 million borrowing plan | Paterson Times Paterson Times

Paterson council gives preliminary approval to $10 million borrowing plan

By Jayed Rahman
Published: October 14, 2019

city-hall

Municipal officials gave preliminary approval to a $10 million borrowing plan for sewer repairs, park and field improvements, modernization of construction permitting, road resurfacing, and equipment for public works.

Council members gave preliminary approval to the plan without opposition last Wednesday. Five bond measures were voted on just before 2 a.m.:

Some council members had long suggested mayor Andre Sayegh’s administration take steps to seriously invest in providing better services to residents. Among the suggestions were purchasing a second pothole patching truck, a chipper to process trees branches into wood chips, and acquisition of snow trucks.

The latest bonding measures push up the city’s total debt to $140.38 million, according to municipal records. Last fiscal year, the city budgeted $16.5 million for debt service.

A public hearing and final vote on the borrowing plan is scheduled for Nov. 26, 2019 at City Hall.

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