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Coaldale Borough borrows $60,000

Published February 26. 2011 09:00AM

Coaldale borough council at a special meeting Friday agreed to borrow $60,000 to make ends meet until tax money begins coming in.

The tax anticipation loan, from Jim Thorpe National Bank, carries a 5 percent interest rate and must be repaid by July 29.

The loans are routine for most municipalities at this time of year.

Also on Friday council chose a London Plane tree to be planted near the Seek memorial. The tree, which will arrive in early April, is being given to the borough free of charge through the Schuylkill Bicentennial Heritage Tree Program.

The program is providing a free tree to each county municipality this year. The program is a joint effort of the Schuylkill County Conservancy, the Penn State Master Gardeners program and the Pottsville Shade Tree Commission. The program is funded through the Schuylkill Area Community Foundation. The Northeast Tree Association provides the trees.

The tree will arrive as a tiny, "bare root" tree, meaning it will come as it is, with no burlap-wrapped dirt around the roots. It must be planted immediately, and protected with some sort of wire cage or fencing.

London Plane trees are hardy, disease-resistant and well-suited to urban areas, according to the U.S. Department of Agriculture.

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