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Date Posted: Friday, February 15, 01:31:22pm
Author: Withheld
Subject: I think you misses the jist
In reply to: Todd Winkler 's message, "Surplus" on Friday, February 15, 07:35:58am

Todd,
The loan will be from surplus and will be repaid. The loan from surplus is interest free. The cost is the interest that would be gained if the money stayed in surplus.
The town maintains a surplus year to year. The money in the surplus is not actually applied to any future cost but is there to ensure the town stays in the black in the case of a recession or an emergency expenditure. This money will come from here and the plan is to repay it with future fees from developers. If the money is repaid it is not a cost the cost is the interest that we loose if the money stayed in surplus. I would guess the loss of interest would be under $15,000 over the life of the loan.

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