Montgomery Township Officials Consider Borrowing Money
Officials in Montgomeryville could soon take on more debt. The Board of Supervisors Monday night authorized advertisement of an ordinance allowing the township to issue $10,000,000 in tax exempt bonds. The borrowed money would provide most of the funding for building a new multi-purpose community center at Stump and Horsham Roads. It would also be used to pay down the debt on two pieces of open space the township purchased last year. The smaller of the two is the proposed site for the community center. Township officials say the bond issue would not require a property tax hike. The township supervisors will vote on approving the $10,000,000 bond issue at their February 25th meeting.