Wednesday, August 27, 2014

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Cortland/Ithaca

Utica Common Council approves $10.5 million bond

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UTICA, N.Y. -- In tough economic times, the City of Utica is looking for some relief.

The Utica Common Council passed legislation to apply for a $10.5 million municipal bond. Lawmakers called it a revenue anticipation note.

All but one member voted in favor of the legislation.

City officials say the bond will pay for general items in the budget. It will support the city until they receive their state funding.

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