Sentences with phrase «borrow on behalf of the county»

The County Executive must move this process forward and issue the Declaration of Need, a necessary step to allow the Control Board to borrow on behalf of the county.

The County Executive's request granted the Erie County Fiscal Stability Authority to borrow on behalf of the County.

I would request that the Legislature return to a special session and allow the ECFSA to be prepared to borrow on behalf of the County and take politics out of the people's business,» Legislator Ray Walter, R - Clarence said.

Not exact matches

Because of the lack of competing bond offerings, he said, the Erie County control board, which was borrowing money on the hospital's behalf, received an excellent interest rate.

Just last month, the Legislature unanimously approved a resolution allowing the ECFSA to borrow on behalf of the Erie County Medical Center; saving an estimated $ 118 million compared to if the County borrowed the money.

After the rapid decline in Erie County's credit ratings following the «Red - Green» Fiscal Crisis, the County had opted to allow the Erie County Fiscal Stability Authority to borrow on its behalf because of the interest savings associated with their superior credit rating.

«It would be as if you borrowed on behalf of someone else for their mortgage, but the mortgage was paid for by the other individual, so Erie County does not pay for the debt service associated with the borrowing.

Rath and the rest of the Republican - supported majority expressed concerns about the legality of the arrangement, particularly the part that would require the hospital to essentially pay Erie County an upfront fee in exchange for borrowing on the hospital's behalf.