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Simsbury boards weigh using reserves to blunt a temporary debt‑service spike
Summary
Officials said municipal debt service rose from about $6.5M in 2022 to a peak near $9.5M and described options — including using $2M+ of capital reserves and modeling cash‑for‑capital — to smooth future mill‑rate impacts ahead of potential major projects.
Board and town staff told the joint meeting that a rise in debt service is the most binding constraint on the FY2027 tax rate and long‑term fiscal planning.
Lisa Hevner and Mark (town manager) highlighted that debt service increased from roughly $6.5 million in 2022 to about $9.5 million in the most recent projection and that, absent intervention, it remains at an elevated…
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