The Atlantic City Council will hold a special electronic meeting 5:30-p.m Wednesday (April 22nd). The session will be conducted via ZOOM (at https://us02web.zoom.us/j/86252926528?pwd=RFo1aVNQQlN0ZDJlbEk1SUR1QXJtdz09), and will begin with a Public Hearing on a proposal to “Enter into a General Obligation Refunding Loan Agreement and to borrow money thereunder in a principal amount not to exceed $200,000.”

The Hearing will be followed by action on passing a Resolution “Taking additional action on Proposal to Enter into a General Obligation Refunding Loan Agreement, Combining Loan Agreements, Providing for the Issuance of $3,685,000 General Obligation Refunding Bonds, Series 2020, and Providing for the Levy of Taxes to Pay the same.”

Over the course of next eight-years, the move (if approved) is expected to save the City almost $93,194 in interest.