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Lewisboro Eyes Borrowing For Roads

Lewisboro Town Supervisor Peter Parsons is looking into borrowing funds in order to properly fund the road paving budget for the town.
Lewisboro Town Supervisor Peter Parsons is looking into borrowing funds in order to properly fund the road paving budget for the town. Photo Credit: Bob Dumas

LEWISBORO, N.Y. -- The Lewisboro Town Board began weighing its options in order to properly fund the road paving budget for 2014, and is exploring the option of borrowing up to $100,000 in order to make the budget work, according to the Lewisboro Ledger.

Town Supervisor Peter Parsons has recommended a step program that would include a mix of small tax increases and borrowing over the next four years. During that time, the tax increases would allow the town to wean itself from borrowing all together, the Lewisboro Ledger reported.

The money needed to fill the budged for road paving would be provided by the Consolidated Highway Improvement Program and a bond anticipation note, according to the Lewisboro Ledger.

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