Tbnewswatch Local News
2014-03-23 at 5:23PM

Council preview: Debt management and taxicab responsibility

By tbnewswatch.com

City council is being tasked with making a key decision on the city’s debt management strategy.

After being referred in January, the question of how to to fund the second phase of Golf Links road improvements is returning to council chambers at Monday night’s meeting.

Councillors have the option of borrowing the whole $8.2 million through debenture or only taking out a $5.2 million debenture and taking the rest from the Renew Thunder Bay Fund.

The project would see four-laning between Oliver Road and Riviera Drive as well as the addition of a new set of traffic lights.

Tbaytel is also asking to borrow $10 million. CEO Dan Topatigh said earlier this year that balance sheets are healthy but it’s a good time to borrow.

Also on the agenda, council will be asked to take authority over the taxicab industry in Thunder Bay from the Thunder Bay Police Services Board.

The police services board, which has overseen cabs since 1996, had voted in February to hand over responsibility to the city’s by-law enforcement department.

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