Borough Assembly members discussed the repayment of a $12,000,000 Public Safety Facility bond debt during a July 6 meeting and came to no conclusions.

Unsure of whether or not the $12,000,000 will be sufficient to complete the project, Assembly members discussed the possibility of asking for more money from Wells Fargo.
If able to pay back the extra money in one year’s time, the extra request would not be required to go to public vote.

Assemblyman Gary Hanson recommended they add $680,000, the annual payment for the bond, to next year’s budget and determine how much would come from commercial vessel passenger excise tax and sales tax.

“I will be anxious to see in September what our design team has come up with,” Hanson said. “Hopefully it’s closer to $12 million than to $17 [million].”