Form Instructions 8863 for Allentown Pennsylvania 2024-2025

Form Instructions 8863 for Allentown Pennsylvania: What You Should Know

Upon filing the bond amendment, any remaining indebtedness on the November bond issue shall be reduced to zero, which shall be sufficient to repay all debt on the November issuance date. Any outstanding debt shall thereafter be paid in full during the intervening two-year period; provided, however, however, that no debt on such bond issued in the interim period under this subsection shall be due and payable as of November 2, 2021. ” The debt payment shall be in the following order: (1) principal payment and interest thereon; (2) principal of the additional debt; (3) unpaid interest on the additional debt; (4) principal of any additional debt to be funded in the November special bond election; and (5) interest on such additional debt; provided, however, that if the municipal debtor establishes the indebtedness to have incurred during the month prior to the November special bond election, all such debt shall be due and payable as of that month.” [Emphasis added.] The debt was paid during the interim, so that the debt would be paid in full in November. Mayor and Council to Vote on Bond Issue June 27, 2022 — The City Council is to vote on a resolution to proceed with the November special election in accordance with Section 10-10-1 of the General Statutes. Upon that vote and upon completion of the bond election, the City Council shall have the authority thereafter to issue bonds for debt service and to sell bonds, either through open market purchases by private investors or through the issuance of special-purpose municipal-issued debt notes in the City's debt financing plan or special charter bonds. After January 1, 2023, the City may enter into open-market repurchase agreements to fund its debt service and capital needs. November 2, 2025 — The Mayor and the City Council shall issue a resolution declaring the November special election, and shall place on the ballot for election for the November special election: Bonds to fund the construction of the Gilbert Veterans Memorial (Township) Park at the intersection of Washington Ave. and East Civic Center Drive, and to fund the operation and maintenance of the Gilbert Recreation Center located in the Gilbert Recreation Center parking lot; Bonds to fund the construction and operation of the Gilbert Community Center.

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