The Legislative Council Monday night approved bonding up to $125 million to be deposited into the town's Pension Fund.
The controversial decision came after more than an hour of public comment both for and against the bonding.
Councilman Tom Rousseau was the only one to vote against it, but several others on the council said the also were not happy with the situation.
"It's not the greatest solution but it's the best thing we have," said Councilman Ozzie Brown.
The fund is supposed to total more than $400 million but only contains about 14 percent of that. Even with the $125 million infusion, it will only be funded at about 40 percent.
Mayor Scott Jackson proposed the bonding as part of a multi-faceted solution that also calls for spending cuts and union concessions.
Many expressed doubts that with the bonding approved, there will be little motivation for the unions to agree to givebacks because the approval mandates that the town now fully fund the annual required contribution.
Two of the town's major contracts also don't come up for negotiations for two years.
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