Suffern Bonds Approved to Reduce Deficit

According to officials for the Rockland County Village of Suffern, New York State Governor Andrew Cuomo has signed off on the approval of bonds. Treasurer Michael Genito stated that the loan will allow the village to pay off a $5 million deficit over the course of ten years. Before they are able to issue the millions of dollars in serial bonds, the 2014 and 2015 audits must be completed. Village officials are working on a new fiscal plan that would require them to send quarterly financial reports to the state Comptroller’s office. According to information compiled in the Journal News residents recently received a 16% property tax increase as well as a 4.5% in sewer charges and 5% in water charges. Genito stated to the news paper that the village will likely have to issue a bond anticipation note to begin lowering the deficit now.

Snow Closings Updated Regularly

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