THE CARDINIA Shire Council will borrow $4 million before the end of the financial year.
Councillors endorsed a motion to increase the council’s borrowings by $4 million in the form of a principal and interest loan over 15 years, at a fixed interest rate.
By reducing the interest on other loans, the net result will be a $1.37 million reduction in the council’s total debt, to $43.4 million.
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Splashing cash on pools
Cardinia Shire hopes to upkeep aquatic facilities with funding dedicated for their annual renewal as part of this year’s draft budget.
The council’s draft budget...
