INCORRECT AMOUNT — Borrowing money through bonding to help pay for a new fire station would increase the mill rate about 25 cents per $1,000 valuation. An earlier version of the story on the Web and on Wednesday’s B2 of the City edition incorrectly reported the amount of the increase.

NEW GLOUCESTER — The best way to pay for a proposed $2.3 million fire station was a topic at Tuesday night’s informational meeting.

About 50 people listened to Fire Chief Gary Sacco’s PowerPoint presentation on the history of the project.

Voters will decide, probably in January, if they want to have a new five-bay station with a training center for fire and rescue personnel on 25 acres along Route 100.

Some advocated floating a 10-year bond with annual payments of at least $248,000, while others favored taking the money out of reserve accounts, which total more than $5 million.

Town Manager Rosemary Kulow said borrowing the money would raise the tax rate slightly more than 50 cents.

Resident Alan Rich said it pays to bond the project, as opposed to using reserves which accrue interest.

“Bonding is an excellent way to balance out the use of the facility,” he said.

“A lot of people are on a fixed income,” said Bill Kiley, who favored paying for the project with money on hand.

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