Despite an attempted re-vote on amendments to the city's plan to spend money in the stock market with some of its reserve funds, the plan is going ahead.

RBC Dominion Securities is handling the city's investments and moving them out of low-risk, low-dividend bonds and into a plan that will see the city put up to 90 per cent into long term investments in the stock market. It's a plan that will potentially make the city up to 6 per cent annually.

Coun. Brian Swanson felt the move to the stock market was a risky use of the city's funds.

“I have talked to people much more knowledgeable than I about investing,” said Swanson. “And the number one response I get is why don’t they put the money into the roads and the water lines instead, as opposed to going into the stock market. And I agree completely.”

Swanson said the investment is too risky.

“I do not support anyone telling me that we’re going to make money or lose money,” he said. “It is an unknown thing... The advice I most commonly read is: Pay down your debt and don’t use anything other than discretionary money for riskier investments like the stock market.”

Coun. Dawn Luhning said that she didn't mind the scrutiny that comes with being on the investment committee, but doesn't think it's fair to accuse investment professionals and people on the committee to do what's best for the community.

“I just, at one point, would like to ask, what we are in favour of,” she said. “Because it appears at some times we’re not in favour of a lot of things that happen around this table. Certain people are against everything. All of it. In a certain way, and at some point it just needs to stop.”

Swanson offered an amendment that only 30 per cent of the long-term investment reserves be placed in the stock market but that was defeated and the city will go as planned.