Carleton Place well within debt capacity

March 16, 2017 by

Carleton Place LogoCarleton Place Council learned the town is well within its debt capacity at Tuesday night’s council meeting.

The town currently uses about 14 per cent of its debt.

This means the town could afford $51 million of debt for a twenty-year debenture.

Town Hall Clerk Duncan Rogers said the town has the ability to take on capital projects without worrying about exceeding the debt limit.

The clerk added the debt limit is a guideline for municipalities and Carleton Place has about 86 per cent of its limit to work with.