Disagree with borrowing for purchases such as multiplex

I was one of the many who attended the forum for council hosted by the Chamber of Commerce.

Dear Editor,

I was one of the many who attended the forum for council hosted by the Chamber of Commerce. I appreciate those who are running and their dedication to the town and willingness to put their names forward.

Questions about a multiplex with an arts centre caught my attention, not so much from the need for such a facility, but how some of the candidates suggested we pay for it.

I may be in the minority, but I disagree with borrowing for all the purchases. I am a Sylvan taxpayer who is in his 30s. Heavily borrowing today will have long term impacts on the town’s ability to manage budgets going forward, as the interest never sleeps or takes a holiday. It will always be an expense that they need to account for.

I, and many others, will bear the brunt of these decisions for years to come. I am well aware that interest rates are at historic low levels but it still doesn’t make it right.

I think it is a fantastic time to get out of debt, because of the low rates, and we can do it quicker now than at any time in history. We should build up a reserve, and when the rates increase (and they eventually will), that reserve will pay us handsomely and assist in cash flow in the future.

I know that this is a hard thing to digest in a “we need it now” world, but the old saying of “use it up, wear it out, make it do, or do without” should apply to the town as well, when they spend taxpayers’ money.

Town council, please don’t put me and other citizens in tax bondage for the next 30 years where we are a “slave to the lender” just because of a desire to have something now.

Trevor Pratt,

Sylvan Lake

 

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