Beaver Dam Administrative Committee Signs-Off On Voluntary Debt Cap Policy

(Beaver Dam) The Beaver Dam Administrative Committee Monday night signed-off on a voluntary debt cap policy. If approved by the common council, the cap would change from a fixed dollar amount to a percentage of debt capacity allowed by the state; 65-percent of capacity is the recommendation. The city is borrowing $6-million dollars next year and, under a 65-percent cap, would still have around $14.7-million dollars left in available borrowing. If the city were to continue borrowing $6-million and, as old debt is paid-off, by 2025 Beaver Dam would have around $11.5-million in available borrowing. The debt policy change is expected to be addressed at the council’s January meeting.