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First Posted: 8/22/2014 DALLAS &#8212; The borough council approved a resolution at Wednesday&#8217;s regular meeting to approve the financing, refinancing and/or reimbursing by the Dallas Area Municipal Authority of certain projects for the benefit of King&#8217;s College.
Ben Jones, solicitor for the Dallas Area Municipal Authority, explained to council that King&#8217;s needs to take out a loan to finance certain projects and to repay debt owed to the Wilkes-Barre Finance Authority. He said that under municipal code, general municipalities such as DAMA are allowed to act as a &#8220;conduit&#8221; and sponsor loans taken out by a nonprofit eligible educational institution such as King&#8217;s to pay off debtors.
The two other municipalities served by DAMA, Kingston and Dallas Townships, have also approved the resolution. Jones also pointed out that DAMA, nor the municipalities, would be responsible for King&#8217;s debt.
&#8220;This is a &#8216;no-recourse loan,&#8217;&#8221; he said. &#8220;In the unlikely event of default, there is no responsibility on the part of the municipality for payment.&#8221;
In other business, council:
&#8226; Accepted the resignation of Kathryn Kupstas from the Dallas Borough Zoning Board effective July 24, 2014.
&#8226; Appointed William Peiffer as a member of the Dallas Borough Zoning Board to immediately fill the term vacated by Kupstas with a term to expire Dec. 31, 2015.
&#8226; Appointed Robert Shaffer as a vacancy chair for the borough to fill the term vacated by Patricia Peiffer.
&#8226; Approved the financial requirement and minimum obligation for the 2015 budget for both the borough&#8217;s uniformed police pension plan in the amount of $54,443 and the non-uniformed pension plan in the amount of $13,434.
&#8226; Authorized Gate of Heaven Church to utilize borough roadways for the annual 5K run to be held on Oct. 18.
Council&#8217;s next work session will be held at 7 p.m. on Sept. 15. The next regular meeting is scheduled 7 p.m. on Sept. 17.

Dallas signs off on helping King’s with loan