By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
CCC passes non-binding bond resolution
Proceeds could be used to build sports complex
Placeholder Image
Camden City Council passed a non-binding resolution Tuesday night declaring its intent to use the proceeds from the possible future issuance of tax-exempt bonds to pay the city back for work on a proposed sports complex. The resolution, which passed 4-1 with Councilman Willard Polk voting against, is a legal requirement, according to Lawrence Flynn of Pope Ziegler, the city’s bond firm. Flynn said if the city decides to issue tax-exempt bonds in connection with the sports complex, the resolution is required in order for it to use proceeds from the issuance of those bonds to reimburse itself for certain expenses.