CENTRAL COAST COUNCIL LOCKS IN $100M LOAN

Despite already amassing more than half a billion dollars debt, Central Coast Council has locked in a $100-million loan.

It’s hoping to restructure its finances, after it paid for capital works and services by using restricted accounts.

The new loan is one of several measures aimed at driving down the council’s $115 million loss this year.

It’s also considering a 15 per cent rate rise.

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