water and sewer turnover

The discussion part of this issue is apparently over, as the meeting consisted of the City Attorney going over the particulars of the proposed contract to deed the water and sewer dept to the County. There were a couple of minor questions that need to be clarified but then its a done deal. This was merely dotting the I's and crossing the Tees. If amortized over 20 yrs it will mean a reduction in our league-leading water bills. Its 20 mil, plus the interest at 3.92% for 20 yrs comes to 29 million. It would have looked EVEN better if it was amortized over 30 years so we could see and even bigger monthly drop in our rates but, of course, over 30 years the interest overall would have been WAY higher. My question is-How much more debt can we take on? If you add millions more in debt for a new gym are we in over our head? Is a recession the time to take on all this debt? We can completely refurbish the gym with NO NEW DEBT! Piling on new debt for the next 20 years concerns me. We had no real good option in the case of the water and sewers, but with the gym, we do!!!