Declined for now, but it wasn't a hard no. The City of Moose Jaw will not get an increase to our debt limit after making an application to the Saskatchewan Municipal Board.

Earlier this fall we told you that the city was looking for an increase to $125 million dollars to cover off some major projects in the next five years. In order to do so, they needed to apply for an increase in their debt limit but the board decided to maintain the current debt limit of $95 million according to Finance Director Brian Acker.

"We budget over a five year period and so over that five year period we'll end up, based on our current capital plan, at just over $120 million in borrowing and so we applied for an increase for that whole time horizon."

But the board felt that since that won't be for another five years, the current debt limit would suffice and said the city can apply again within two years. Acker says that should be fine and won't hold up any projects.