The Town of Nanton decided against going to a "zero debt" position at their last council meeting.

They have the cash to pay off a $570,000 debenture, making the Town debt free, but Mayor Rick Everett says they decided to go in another direction, instead investing about $700,000 in cash they have on hand.

"Our Administration did an analysis of what happens if we take the money we have and put it in the bank and gain interest. Because the interest (on the debenture) is paid off, so we're just paying on the principal anyway, which is a low rate. So, if we were to put the money we were going to use to pay off that debenture into the bank, we will actually make money."

Everett says they're looking at making $20,000 to $30,000 off the investment, which we be used for other town projects, saving taxpayers from the bills for those projects.