$252,000 Paid Back On City Park Funds
Parent Issue
Day
16
Month
July
Year
1974
Copyright
Copyright Protected
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Donated by the Ann Arbor News. © The Ann Arbor News.
OCR Text
Ann Arbor has now repaid more than a quarter of a million dollars that was borrowed from 1967 and 1971 park bond issues to support other city operations. Patrick Kenney, assistant to the administrator, told City Council in a report that $252,000 has been repaid from four separate funds that had borrowed money from the park bonds. Those bond issues are still owed about $750,000. These repayments include $142,100 from the weight and gasoline tax fund, $50,000 from the special assessment fund and $55,000 from the sewage disposal fund. Kenney also reported $5,000 of a $20,000 loan to the Veterans Ice Area fund has also been repaid, and the remainder is scheduled to be paid back during the next two years.