Council urged to use reserves, avoid new loans while rebid proceeds
A council member recommended avoiding new loans and exploring use of unrestricted reserves and reimbursement resolutions to bridge a roughly $1.5–1.8 million gap; staff agreed to prepare options and consult a financial adviser if needed.
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A council member urged caution on taking any new borrowing to fund the projects and said the town has unrestricted money-market funds that could be used to bridge the gap in the near term.
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