The North Bay Taxpayers Association is again sounding the alarm over the mayor`s plan to call in North Bay Hydro loans. Don Rennick says the plan is flawed because Hydro will have to borrow money to pay back the city.
And Rennick says once Hydro does that, the interest it now pays the city on existing loans will go to an outside lender. The city wants to use the Hydro money on program spending.
Rennick wants a meeting with city council and staff to discuss why calling in the loans is wrong.