Saint John common council calling a special meeting to vote on permanent financing of certain capital projects….Finance Commissioner Greg Yeomans tells CHSJ News the work has already been done on projects like Peel Plaza and the fire training facility, but we still need to pay back incrementally what we borrowed.
He says just as you wouldn’t take money exclusively out of your paycheque to buy a house–but rather, you’d go to the bank and get a loan for such a major expense–the City of Saint John has also had to borrow funds for major expenditures.
Common Councillor Susan Fullerton was the sole councillor to vote against, saying she’s uncomfortable voting on something she doesn’t feel was adequately explained.
Some bigger items on the list included the police station at Peel Plaza and the fire training tower at $1 million, while $280,000 went toward Saint John Transit buses.
For the full agenda and list of debentures click here
