Cape Elizabeth Town Manager Michael McGovern has proposed using interest earned

Source

Portland Press Herald

Date

7-23-1994

Pages

4B

Abstract

Cape Elizabeth Town Manager Michael McGovern has proposed using interest earned from investing the $11.5 million it received from the recent sale of bonds to help the community's middle and elementary school renovation project. Under McGovern's proposal, the investment proceeds would be used to fund a new community parking lot, a basketball court and a bus equipment building on the school grounds at a total cost of $117,000. These items were not included in the school department's $11.7 million renovation budget. The town council recently turned McGovern down when he proposed to spend $117,000 in municipal funds on these items.

Subjects

Municipal improvement

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