April 29, 2014, Mississauga, Ont. – Mayor Hazel McCallion
admits that the City of Mississauga will have to take on debt in order to pay
for a growing number of infrastructure needs, including community road building
projects.
April 29, 2014, Mississauga, Ont. – Mayor Hazel McCallion
admits that the City of Mississauga will have to take on debt in order to pay
for a growing number of infrastructure needs, including community road building
projects.
According to a report from the Mississauga News, the city is
unable to come up with the necessary funds from its limited tax base and
secondary revenue sources in order to cover the cost of repairing and replacing
infrastructure.
As a result, Mississauga has announced plans to borrow $36
million to cover infrastructure projects in 2014. That amount is in addition to
the $50 million the city borrowed in May of 2013. The borrowed money will help
pay for the rapid bus Eglington transit line, as well as several community road
repair and construction projects.
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