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City Passes Ordinance For Issuance And Sale Of Bonds

April 23rd, 2014 by WCBC Radio

The Cumberland Mayor and City Council Tuesday approved the first reading of an ordinance allowing for the issuance and sale of bonds not to exceed $7.5 million. City Administrator Jeff Rhodes said the bonds will encompass a three year window, with $2.6 million to be used to street paving and pavement management. The remainder will be used for improvements to the water and sewer system, facility and property improvements- including city hall- and new vehicle acquisitions. Councilman David Kauffman said by spending now, the city will actually be saving money in the future…

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