Utica Council Votes To Borrow $10 Million
Utica, NY (WIBX) – The Utica Common Council has given the go-ahead to borrow additional funds to help the city pay its bills.
Earlier this month the Council agreed to borrow just over $2.2 million to help alleviate sewer and ravine problems in South Utica and to demolish two key properties in the city.
The Council has now voted to allow the city to borrow up to $10 million.
According to Councilman-at-Large Jim Zecca, the city needs to pay millions of dollars to vendors, Oneida County and the Utica School District.
Zecca says the money is needed to take care of cash flow problems and has nothing to with the city’s new budget.
Mayor Rob Palmieri will release his budget proposal this afternoon.