Lansdale officials are getting ready to borrow through a 10 million dollar bond which would be used for a wide variety of infrastructure improvements, ranging from sewer line repairs to electric substation maintenance.
Borough officials say that even with new borrowing, their debt-to-equity ratio would less than point five. Every dollar of debt would then be backed up by just over two dollars in assets. Council member, Denton Burnell chairs the administration and finance committee.
“The combination of our current financial position, historically low rates and the obvious capital means we have occurring all at the same time are really what is driving this desire to look at an additional bond.”
Lansdale Borough currently spends almost 1.9 million dollars a year for debt service.