by Josh Resnek
Without fanfare or debate, the city council officially approved the 2020 city budget Monday night.
Also approved, is a $16.4 million General Fund Request, money which will be used to fund a variety of capital improvements throughout the city.
The $16.4 million will be borrowed at the same time other city debt is being retired.
The borrowing does not impact directly on the windfall of money about to hit the city treasury. The loans will be paid back like any other – from month to month with interest until they are gone. The first quarterly payment of about $6 million from Wynn Resorts will shortly be deposited neatly into the city treasury.
The borrowings for sidewalk repairs, design services, and for park construction and Everett Square improvements, among others, will set the city back $16.4 million any way one chooses to look at it.
Continue reading “$208 million budget approved; Capital improvements, also”