Newton approves $4.8M for capital improvements
Newton will invest more than $4.8 million in capital improvements during the fiscal year ahead, and almost $4.4 million will be financed with new debt.
Approved this week as part of a five-year capital improvement plan (CIP), the spending will pay for a variety of projects and equipment in the city's general fund, water/wastewater and electric operations.
The city is in the second year of a CIP originally approved last year.
"We established a capital improvement plan so we can plan our future and budget for that. These capital improvements are a lot of infrastructure that really has been neglected, and it needs to be attended to," said Newton Mayor Anne Stedman. "This is a great tool, plus it helps give direction to the city manager when he and the department heads are creating their budget."
The plan didn't meet all of the city's needs, however.
For more on this story, pick up the Friday edition of The O-N-E.