PEABODY – The Finance Committee voted 3-2 Thursday night in favor of borrowing $950,000 to pay for what many councilors believe was a terrible and preventable mistake.The bond would be used to make improvements to the Coolidge Water Treatment Plant, and in turn, clean up the mess that has become Spring Pond since the costly decision made by Director of Public Services Dick Carnevale 10 years ago.”I admit it, I’m the one responsible,” he said from behind the podium. “I’m the guy to blame.”Between 1997 and 2006, the city was lodged between a rock and a hard place. They were denied permission to dispose of residual waste (dirt, iron, etc) through the South Essex Sewerage District, and Carnevale made the decision to pump all the waste into two onsite lagoons. As the lagoons were built with the intention of handling only half that amount, naturally, they overflowed and the residual waste found its way into Lower Spring Pond.The State Department of Environmental Protection fined the city in the amount of $25,000 in 2006 when reports of the contamination arose. That amount was lowered to $6,000 after consenting to cleaning the pond entirely by Oct. 1, 2008, or face a $1,000 a day fine until they do.Carnevale admits to making a bad call, but stands by his word in that pumping the waste into the lagoons seemed like the least costly decision at the time.The cleanup process would involve the installation of a floating suction pump to help with the residual breakdown of the lagoons, as well as a Trak-Vac system that works like it sounds, as an underwater vacuum to remove waste.”This is something that should have been done,” said Councilor Dave Gamache. “Now we’re looking for $950,000 to rectify the situation.””I have a real problem with asking taxpayers to ‘sock it to ’em’ again for something that should have never happened,” said Councilor Barry Sinewitz, who believes that if the problem had been taken care of earlier, the city wouldn’t be in this position today.”We decided to save money at the expense of the environment,” said Committee Chair Ted Bettencourt, Jr., who told the Councilors “we have to right our wrong.”Councilor Arthur Athas suggested borrowing only a portion of the needed money and using the city’s reserve funds for the remainder.”If they bond it, they will spend it,” said Councilor Rico Mello, who later motioned for the use of a $550,000 bond. His motion failed 2-3.Councilor Gravel felt that using “free cash” is risky in that the city might need that money for something else in the future. He felt that Peabody would be better off bonding for the entire amount and using reserve funds for any remaining costs that might arise.His motion to approve the full $950,000 bond carried 3-2. City Council will weigh-in on the issue at their next meeting.