Lockport Union-Sun & Journal Online

Local News

June 20, 2014

State OK's city borrowing

Lockport Union-Sun & Journal — Legislation allowing the City of Lockport to borrow $5.35 million to cover recent deficits was OK'd by both houses of the state Legislature, state Sen. George Maziarz's office announced Friday.

The legislation, requested by the city this week through a home rule message, will allow the city to issue bonds and raise money to cover deficits incurred in the 2011, 2012 and 2013 budget years.

The state Senate OK'd the legislation Friday. The measure passed in the Assembly on Thursday. It will now be sent to Gov. Andrew Cuomo for executive action.

 

 

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