Beaver Dam Common Council Votes To Exceed Borrowing Cap

(Beaver Dam) The Beaver Dam Common Council Monday night voted unanimously to exceed its self-imposed borrowing cap. For the past ten years, the city has been limited to borrowing $1.7-million dollars for streets, infrastructure and equipment. The cap can be exceeded with three-fourths approval of the council, which is eleven of 14 alderpersons. The resolution adopted last night does not indicate a specific amount that will be borrowed, only that the city will exceed the borrowing cap. City officials will be looking more in depth at the borrowing plan next Monday, at which time there will also be a public hearing. The proposed borrowing for next year totals $5.9-million dollars. The 2021 Capital Improvements Plan allocates $4.25-million dollars for roads and $1.5-million dollars for parks. Talks are underway to increase the cap but that would not happen until 2022 at the earliest.