How will the Municipality pay for a new roads shed that is now a $9,000,000 project?
$9,000,000new loan for the roads shed in the 2026 budget, against $629,764 of long-term debt at the end of 2023
The 2025 budget described a new roads shed as a multi-year project of $7 million. The 2026 budget puts $9,000,000 in the capital plan for it and shows a new bank loan of the same size. The Municipality's long-term debt at the end of 2023, the latest audited year we could read, was $629,764. We did not find a council report explaining the change in cost, the loan terms or the effect on the tax levy (the amount raised from property taxes).
Found by reading the town's own documents · 5 sources