Peekskill forced to borrow $3M to meet payroll costs
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Westchester payroll 2011
Peekskill passed its 2013 budget only two months ago, but the city will start the year by borrowing to pay its bills as it waits for revenue from property tax collections that won't start rolling in until the spring.
Issuance of a revenue anticipation note for about $3 million will make ends meet until tax revenues materialize in April, city officials said.
During past years, Peekskill...
