Dryden’s Debt Higher Then Expected

Looks like Dryden is deeper in the hole then originally thought.
At last nights meeting, Mayor Craig Nuttall says that the city has 10 million dollars on top of the already 27 million it is in debt.
Included in the 10 million is 6 million in overdraft.
Nuttall says that if they go over 7.5 million, the interest rate will jump up to 22% but says there should be no problem paying off the current amount.
Council is looking at every department, looking at where cutbacks can be made.
Nuttall addressed the closure of the second ice surface at the arena by saying they are no longer considering it, considering the city will bring in about $50,000 revenue from two hockey tournaments being held next year.
One resident asked council if all the money saved from the sale of DMTS will go to pay down the deficit and the debt and Nuttall responded with yes.
City manager Joe van Koeverden says that a large chunk of the debt has come from Dryden Mobility.