Munhall council has received several proposals from private lenders for a tax anticipation loan that it needs to meet payroll and avoid layoffs in the coming weeks.
Councilman Rick Brennan, chairman of the finance committee, said Monday that at least three sealed proposals had been received and that the finance committee planned to open and review them Monday night.
The proposals will be discussed at council’s workshop session at 7 p.m. Wednesday.
Council was forced to advertise for a private lender for the tax anticipation loan after it could not get a bank loan because the borough did not have 2011 and 2012 audits performed by an independent auditor and filed with the state Department of Community and Economic Development.
Mr. Brennan said council expects the cost of borrowing from a private lender to be higher than a traditional bank loan, but the loan will prevent the layoffs of 10 police officers and nine public works employees. Munhall sent out its annual tax bills last week — two months earlier than normal — in hopes that residents will pay them early.