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Council trims capital reserve ask after heated public debate over long‑term risk
Summary
Councilors proposed and approved a reduced capital reserve package that trims the town's proposed deposits from about $2.9 million to roughly $1.81 million, in an effort to lower the immediate tax increase. Supporters said the cuts are one‑year, targeted deferrals; opponents and residents warned they risk future costs and the town’s bond rating.
Article 8, the capital reserve fund deposits, became one of the meeting’s most contested items on Jan. 14 as several councilors presented a package of cuts intended to reduce the proposed tax impact.
Council proponents said they reviewed individual capital line items, on‑hand balances and purchase schedules and identified…
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