(Gowatertown.net – Watertown, SD) The Watertown City Council has voted to borrow another $10 million to construct a new two sheet ice arena.
Monday’s decision at a special council meeting means the city has now bonded $30 million for the project, and they’ve pledged to use another $5 million in cash reserves.
A private fundraising group has raised another $8 million.
Mayor Ried Holien says the bonds will be paid off with sales tax revenue, and can be looked at as a loan, and not long-term tax debt…….
Groundbreaking on the project is expected next month, with an opening in late 2023 or early 2024.