With the story about us spending $22 million more for the ball park bonds because city council decided to hold off selling them until after their election we seem to have forgotten just how bad the bond situation is.
According to this chart the city does not expect to pay any principal at all until August of 2023. At that point they show a $17.6 million balloon payment.
Please don’t think that we are only facing $45 million in debt on these bonds. They also sold ones that are not tax exempt and account for another $15.6 million.
We deserve better