Devon backing Golf and Curling Club loan

Town to sign on as guarantor

The Town of Devon is stepping up to help out the Devon Golf and Curling Club.
 
At its last meeting, council was asked to sign off on plans for the Town to be the guarantor on a 50,000 dollar loan for the Club
 
Being the guarantor means that if the Club can't repay that loan, the Town would be on the hook for the money.
 
It's not the first time this has happened - back in 2017, the Town held the same status on a 150,000 dollar operating line of credit.
 
There was no outstanding balance on that credit line as of the beginning of August, and Town administration says the Club hasn't missed any of its past payments.

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