The City Council meeting had a discussion on how much money Marshalltown plans to borrow next fiscal year. Jessica Kinser laid out 3 different borrowing options and each will spend the money slightly different. The first option to only borrow $10 Million, would leave only $2.65 for street improvements. 2nd option would be to borrow up to 70% of our debt cap. While the 3rd option is to borrow up to 75% of the debt cap. Councilman Thompson and those from the public would like to see more money go to street projects, as that is what the Council has said is a major problem. A large chunk of money is set aside for the Linn Creek project, which is still waiting to hear if 40% would be funded by a grant. Thompson and some of those from the public question whether we need to do the Linn Creek project now, or focus more on improving the street. Iowa State University is doing a street repair study, and Councilman Mike Ladehoff thought it would be good to wait on borrowing excess money for street improvements until that comes back. Councilmen Isom and Walker agreed with Ladehoff. The first option was passed with $2.65 million for street improvement, and the council will readdress after the ISU study.
Zach Tomesch, KFJB News Reporter