{"id":31172,"date":"2019-09-10T13:55:07","date_gmt":"2019-09-10T17:55:07","guid":{"rendered":"http:\/\/www.wrfalp.com\/?p=31172"},"modified":"2019-09-11T11:38:32","modified_gmt":"2019-09-11T15:38:32","slug":"teresi-rolls-out-12-9-million-capital-investment-program-bonding-proposal","status":"publish","type":"post","link":"https:\/\/www.wrfalp.com\/teresi-rolls-out-12-9-million-capital-investment-program-bonding-proposal\/","title":{"rendered":"Teresi Rolls Out $12.9 Million Capital Investment Program Bonding Proposal"},"content":{"rendered":"
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Sam Teresi presented his $12.9 million Smart City Capital Investment Program to members of the Jamestown City Council during the Sept. 9, 2019 work session at city hall.<\/em><\/p><\/div>\n

JAMESTOWN – Mayor Sam Teresi<\/strong> has less than four months to go before he leaves office at the end of this year, but that’s not stopping him from rolling out an ambitious borrowing program that he says could result in the city saving half a million dollars on an annual basis.<\/p>\n

On Monday night Teresi, city staff, and the Jamestown City Council<\/strong> spent over two hours reviewing the proposed 2019 Smart city Capital Investment Program<\/strong>, which involves the city borrowing $12.9 million in order to address capital and equipment challenges facing the city.\u00a0 An additional $1 million would also come from the state Financial Restructuring Board<\/strong>\u00a0(FRB).<\/p>\n

The mayor said that unlike borrowing proposals of the past, this proposal is geared toward an effort to identify and go after large expense projects in an effort to create efficiency and save money.<\/p>\n