STONE HARBOR – The Borough Council has approved the cancellation of a number of past ordinances, effectively doing away with the debt associated with authorized but not-yet-funded measures.

Borough Chief Financial Officer Cynthia Lindsay told the council at its Dec. 3 meeting that cancellation of the ordinances reduces authorized but not-funded municipal debt by $12.9 million, moving it from a high of $16.9 million to $4 million.

For the water/sewer utility, debt was reduced from $13.2 million to $10.7 million. The projects that were the basis for the now-canceled ordinances also now have no capital ordinances behind them and would have to be reconsidered for funding if still needed at a future time.

The cancellations are part of an overall reorganization and cleanup of borough debt levels for the municipal and water/sewer utility. Recently the borough held a bond sale to pull together a series of active debt obligations as well.

Contact the reporter, Vince Conti, at vconti@cmcherald.com.