Council rejects cap on capital spending

Common Council refused to put a cap on its capital spending plans for next year.

The Telegraph-Journal reports staff had recommended council not borrow anymore than $12 million for capital projects in order to prevent the long term debt from growing any larger. They recommended keeping the borrowing envelope at about $10 million for projects next year. But that does not include the Fundy Quay development and Exhibition Field House which could come up next year. The city would have to come up with another $4.3 million. So councillors decided they didn’t want to limit their options.