Ogdensburg approves borrowing $2 million to pay bills on time
Wednesday, June 25, 2014 - 9:12 am

OGDENSBURG – City councilors approved borrowing $2 million Monday to ensure its bills are paid on time.

The $2 million “Tax Anticipation Note” allows the city to borrow against taxes it plans to collect at the end of the fiscal year.

Although the city is not struggling financial, the loan will ensure money is available for operational expenses until it receives tax revenues.

City officials unanimously passed the resolution.