A plan to consolidate capital reserves to help repay the city's loans is welcome news to Sarnia's mayor.
Mike Bradley, who has campaigned for many years to be a debt-free city, thinks it's a step in the right direction.
"It would send a solid message across the country about how the city has operated, at the same time, the savings we'd be getting by not borrowing from the banks have allowed us to invest in our infrastructure and there's more to do."
Bradley thinks the savings from refinancing the loans would really pay off.
"A personal priority is that we need to start doing much more work on paving as it relates to the secondary streets in the community. Not the main streets, but the secondary ones that haven't been touched in 20 to 50 years. That is almost a constant, almost daily, concern from the public."
Of the city's current debt, $4.7 million was borrowed and paid to GFIVE Inc. for the demolition and remediation of the former Sarnia General Hospital site on Mitton Street.
Council will consider the more simplified accounting system Monday.
