City to borrow against future donations

The Fairfield City Council agreed to a plan Monday to borrow money for the pool and gym project and pay it back with anticipated donations.

The council agreed to the idea of borrowing up to $4.5 million, which would be paid off in five years. The funds would go toward both the pool and the gym. The funds would come from donations that have been promised to the project but have not yet been made.

The vote on the motion was 6-1 in favor. Councilors Martha Rasmussen, John Revolinski, Daryn Hamilton, Jessica Ledger-Kalen, Tony Hammes and Michael Halley voted in favor while Connie Boyer voted against it.

The council also agreed to move the pool and gym projects along so they are both ?shovel ready,? meaning construction can start on them, by the end of 2013. The council decided it was not a priority to open the pool in 2014, although City Administrator Kevin Flanagan said the pool could open in 2014.

Flanagan said the city will not hold a referendum on its decision to borrow up to $4.5 million but rather hold a ?reverse referendum.? Under a reverse referendum, the city announces its plans to borrow money. The proposal can be prevented if 10 percent of the number of people who voted in the most recent city election sign a petition stating their opposition to it.

The council also agreed to borrow $2.5 million; $1.8 million would go to paying off the city?s internal deficit and the other $700,000 would go into the city?s general fund.