New London will bond $2.4M to pay for infrastructure and equipment costs

The city this year will bond $2.47 million to pay for infrastructure, emergency service equipment and other capital improvements, including those related to a recent church steeple collapse. The bonding is split into two portions ― $1.8 million for road, sidewalks and other infrastructure work, and $673,000 for fire, police and municipal computer equipment purchases. The total bonding amount is approximately $500,000 less than in past years, Finance Director David McBride said on Wednesday, a reduction he attributed to “numerous reasons.” Public Works’ Director Brian Sear said the $1.8 million bond amount is slightly less than the $2 million or so allotted in past years for infrastructure-related work across the city. In 2020 and 2021, the city received a total of $26.2 million in ARPA funding. McBride said the roughly $1 million in federal funding still not allotted by the city must be earmarked for use by the end of the year.

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