Southbury to Consider Bonding for Larger Capital Items

The Southbury Board of Finance has formed a subcommittee to explore the pros and cons of bonding for larger capital items, Chris Gardner reports for the Republican-American.

The town currently has a strict “pay as you go policy”.

According to the paper, Southbury has borrowed money once in the past and is still making payments on the $16 million bond issue. The town is considering bonding for larger items like major road improvements reasoning that present taxpayers should not pay the bill for future taxpayers.

The town is considering borrowing money for a new swimming pool at Ballantine Park on Old Field Road, the paper reports. Southbury has one of the lowest costs of local government primarily due to its low debt.

A report will be prepared by the subcommittee on bonding and presented to the Board of Finance and the selectmen.

Read the full story at the Republican-American.

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