Tuesday, February 8, 2011

Council decides to Finance new fire hall internally

After much debate, city council has decided to fund the long-term debenture for the Kenora Fire Hall.

Council held a special meeting this morning and agreed to borrow money from the Citizan's propertity fund to finance the five million dollar building.

Councillor Ron Lunny says its better to finance the debenture internally rather than externally.

Mayor Dave Canfield admits he has mixed feelings on the 20 year loan, which will pay the city three percent a year.

Council was almost unanimous in the decision.

Louis Roussin voted against, saying the Citizans Prosperity fund was never intended to pay for public projects.