MECHANIC FALLS – About five years worth of road repair projects will be done this summer with money approved at Tuesday’s special town meeting.

In about 30 minutes, 36 voters approved taking on an estimated $315,083 in debt. The principal amount of $286,000 will fund improvements to 12 roads and three public recreation projects. Town Manager Dana Lee estimated an interest rate between 3 and 3.3 percent, which would add $29,083 to the principal.

However, the lack of a guaranteed interest rate and a reluctance for putting the town into more debt caused six voters to object to the proposal.

“I’m not much for borrowing money,” said Milton Walker. “We’re better off setting money aside each year and taking care of the worst roads first.”

Lee countered that fixing roads before they get worse would save the town as much as $150,000 in future repairs while not costing the town any more in local taxes.

The approximately $61,000 approved for road paving in this year’s budget would be set aside for the first payment on the bond next year, Lee said. No other requests for road paving would be made during the five years.

The town will make application in August to sell the bond in October, Lee told town voters. The municipal interest rate at that time will apply.

Walker also noted that roads not on the list for bond funding would not be addressed for at least another five years.

“If you’re not on one of these roads and it’s in bad shape now, you’ll just live it with,” said Walker. “Look how many people are here deciding to spend $300,000. People have got to get more involved.”

Roads now slated for improvement are Patterson, Libby, Yates, Cross, Lower Perkins, West Chestnut, East Chestnut, Maple, Mitchell, Summer and Spring. The recreation improvements include the town’s ice rink, tennis court and a new public restroom.

Walker said he also objected to holding special town meetings because they generally draw low attendance. Forty-four voters showed up at the Elm Street School to vote Tuesday. For the town’s annual meeting in May, 133 voters participated, according to election records. Mechanic Falls has 1,890 registered voters.

The bond issue originally was slated for the May town meeting. However, it was mistakenly left out of the warrant and could not be acted on at the time. The Town Council approved holding Tuesday’s special town meeting.

Jeffrey White threw in the possibility of Carol Palesky’s referendum for a 1 percent tax cap passing in November. Regardless of the revenue the town could take in, Mechanic Falls would still be obligated to pay its debts, White said.