Tuesday, January 22, 2013
Chris Palmer of The Philadelphia Inquirer reports that Canazaro owed more than $10 million to various casinos, banks and the government
- POLICE & FIRE
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Tuesday, January 22
Chris Palmer of The Philadelphia Inquirer reports that Hilltown robbery and home invasion murder victim Joseph Canazaro was $10 million in debt to casinos, banks and the government. Bankruptcy documents from 2008 showed Canazaro owed hundreds of thousands of dollars to casinos in Las Vegas, Atlantic City and Biloxi, MS, according to the article. A matter was settled in bankruptcy court where Canazaro cashed $210,000 in faulty checks with two check-cashing agencies, Palmer reports. Locally, Canazaro owed taxes to Hatfield Township and New Britain Township. Hilltown Township Police and the Bucks County District Attorney believe Canazaro’s Swartley Road home, which he rented, was targeted for robbery by two men who are still wanted by …
Tuesday, December 4, 2012
Council voted last week 8-0-1 to borrow $10 million to help fund $20 million in proposed infrastructure repairs. Interest rates are at a 47-year low, according to asset management firm Boenning & Scattergood
Lansdale Borough is going to do business like it’s 1965. Last week, council voted 8-0-1 to approve the borrowing of a $10 million bond at an initial interest rate of .75 percent — a historic rate that hasn’t been seen in 47 years. The bond will be put toward the funding of $20 million in capital infrastructure and building repairs and refurbishments. The balance of the capital reserve funds in 2013 is proposed at $10.9 million; this amount is after a $2 million transfer to the general fund reserve balance, and $11.5 million in investments paid or to be paid. The debt service in Lansdale at present stands at $1.6 million, or 5 percent of the entire proposed 2013 budget. “The debt service will never go over that $2 million threshold,” said …
Monday, November 26, 2012
The 2010 Lansdale Borough General Obligation Bond is down to about $3.1 million of its original $18 million. In order to fund some $11.5 million in capital projects, administration and finance recommends more borrowing at record rates
With the original $18 million 2010 General Obligation Bond down to about $3.1 million, Lansdale Borough Administration and Finance Committee has recommended an additional $10 million in bank-qualified borrowing to cover $11.5 million in infrastructure improvements. Committee Chairman Dan Dunigan informed council this month that a vote would be coming in December on the proposed borrowing. The committee was working on advice from the bond counsel and financial advisor of Boenning & Scattergood. Dunigan said the original $18 million included $9 million in refinancing and $9 million in new funds. "We have on our list about $11.5 million in capital projects to be done or that will be done shortly. We have roughly $10 million of available funds…
