Shelton Borrows $3.1 Million For Projects

SHELTON, CT — The Board of Alderman authorized borrowing $3.1 million from commercial lenders to pay for capital projects. Some of the projects have already been paid for out of the city's general fund.

Mayor Mark Lauretti said the city started looking to private commercial lenders instead of the traditional bond market years ago in order to save money, according to the Shelton Herald.

Items being paid for include a new garbage truck, an elevator at Plumb Memorial Library, new desktop computers for teachers and a few other projects and purchases.

Read the full Herald report here.