Councils are able to borrow at very low, almost non-existent interest rates which is always helpful, sometimes even profitable, when they themselves are offering loans.
There is little wrong with borrowing for an extensive road repair programme which brings roads up to an acceptable standard and thus reduces expensive regular maintenance costs incurred when roads are of a poor standard. This not pouring money down the drain, it is in theory, good business. Although I have to say that in practice I see no evidence of this programme in Marple, where roads deteriorate week by week.
I see little wrong with bailing out a sports organisation which is apparently very community minded. Although if SCFC is to survive then it needs to survive as a football club, something it has seemingly been unable to do for at least twenty years.