MUNICIPALITY OF THE DISTRICT OF LUNENBURG, NOVA SCOTIA – The Municipality of the District of Lunenburg has become one of just two municipalities in Nova Scotia to become debt-free.
This week, the Municipality made the final debt payment on an infrastructure loan that had spurred development in Osprey Village, including water and wastewater services. The decision to invest in infrastructure was a valuable one, contributing to significant growth in the area, which now has over $31 million in commercial assessment and provides employment and services to the region.
“This achievement is more than a decade’s worth of sound financial management by councils who truly understood the importance of wisely managing taxpayers’ dollars,” says Mayor Carolyn Bolivar-Getson. “The Municipality has a track record of strong financial management, while continuing to meet the needs of residents. We are committed to using taxpayer dollars effectively and responsibly. We have maintained the tax rate despite cost pressures and have not increased the residential tax rate in 12 years, while the commercial rate has remained constant for nine years.”
“Being debt-free means that the Municipality is no longer paying for past infrastructure investments–these funds can now be re-invested in maintaining existing infrastructure like roads, parks, and wastewater treatment systems, or in developing new infrastructure to serve residents,” says Mayor Carolyn Bolivar-Getson. “Council is committed to wise and strategic investment to provide excellent service and support economic growth.”
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