City of Bathurst's application to borrow up to $20 million approved by council

The City of Bathurst's application to borrow up to $20.4 million from the Municipal Capital Borrowing Board has been approved by city council. 

The application was approved at a special public meeting held Wednesday morning. 

Mayor Paolo Fongemie tells The Northern Light that the application is connected to "funds for renewable energy initiatives" and is related to last week's announcement that the city incorporated a non-profit organization. 

The application outlines a borrowing term of up to 30 years. 

~With files from The Northern Light.