Created on Monday, 26 April 2010 11:10
Borough Council is getting ready to borrow money for infrastructure work, including road and pool improvements, and to retire old debt. Councilman Dan Dunigan says the list of projects is incomplete, but the amount should be about $7 or $8 million, plus a small cushion to cover unforeseen costs.
“Given the way the world works, I would think something would need to be factored in so that you have some cushion in the event that the cost of a product were to rise or some need were to arise that you hadn’t expected.”
He says current low interest rates should let them borrow without increasing debt service costs.