More city borrowing?

I see in the July 20 edition of your paper that the City of Revelstoke intends to borrow another $2,620,000 over a period of 25 years. Is there no end to this borrowing? Estimating our population at 8,000, that works out to $327.50 for every person – including babes in arms. There’s interest to be paid on top of that, too – probably more than the principal amount of the loan.

Re: City borrowing ‘Public Notice of Alternative approval Process’ advertisement

Editor,

I see in the July 20 edition of your paper that the City of Revelstoke intends to borrow another $2,620,000 over a period of 25 years. Is there no end to this borrowing? Estimating our population at 8,000, that works out to $327.50 for every person – including babes in arms. There’s interest to be paid on top of that, too – probably more than the principal amount of the loan.

The part that makes me feel really bad about this is that I’ll not likely be around long enough to pay off my full share. Can I just give the City a cheque for $665.00 (two of us) now so I can die with a clear conscience?

In the “fine print” near the bottom of the notice I read “…this question applies to borrowing only, and Council could choose to proceed with the project without borrowing.”  Then why don’t they?

Bill Shuttleworth,

Revelstoke

 

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