With the new budget rolling out, numerous comments about the City’s debt make their way into the conversations at the coffee shops and at public hearings. Many feel the debt is unnecessary and that we will not be able to get ourselves out from underneath it.
At a recent public hearing, One individual stood up and stated in his opinion that the City needed their tax dollars to leverage the debt of $21 million dollars. Naturally, this peaked an interest as to where we are at with out debt and what exactly are we in debt for as of today.
The costs are broken down by who pays what debt. The general fund debt is paid for by all taxpayers, the water fund debt is paid for by those users who receive city water (excluding the Big Eddy). The sewer fund debt is paid by those who are connected to the City’s sewer system and the Clearview Heights debt is paid by the properties in Clearview Heights that receive sewer.
The debt is sitting at $15, 705, 860.00.City Debt - 2017