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Maroc Maroc - INQUINTE.CA - A La Une - 12/Nov 17:56

Napanee could use land sales to accelerate debt repayments

Members of Town Council were presented with a plan that could see Greater Napanee accelerate its debt repayments through the proceeds of land sales.   In line with the Mayor’s budget directive, Town staff outlined options to address the remaining $6.6 million in unfunded capital projects. These projects were paid for with the Town’s operating dollars, and the Town is legally obligated to reconcile the items on its books in a timelier manner.   The plan was outlined in an overview report on the Town’s reserves, debt obligations, and unfunded capital, which was presented to Council on November 10.   Outstanding projects...

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