The City of Quinte West remains well within its budget as far as its ability to pay off its debt resulting from the cost of major capital projects.
At tonight’s regular meeting Quinte West council will see a report showing just over $123 million in debt at the end of 2020.
If council approves its operating and capital budgets tonight another $12 million would be added to that bringing the total debt to $135 million.
This year the city’s principal and interest payments will total $9.7 million.
The City of Quinte West has the fiscal capacity to carry a debt load of $300 million.
See Quinte West’s loan details here.
