N.S. to offer low-interest loans to municipalities for capital projects

<p>HALIFAX – The Nova Scotia government has approved $137 million in borrowing that it says will secure lower interest rates for municipalities.</p> <p>Municipal Relations Minister John MacDonell says the move will save municipalities up to $7.5 million in interest over the next 10 years.</p> <p>He made the announcement to a meeting today of the Union of Nova Scotia Municipalties.</p> <p>Municipalities will be able to get low long-term interest rates from the Municipal Finance Corp. for capital projects such as water treatment plants, hospitals and roads.</p>