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Questions? Ask Away!

June 16, 2010 Leave a comment Go to comments

Do you have questions about the city budget?  Post your questions here.

Categories: Uncategorized
  1. WILLARD ROHRBECK
    July 8, 2010 at 1:51 pm
    Reply

    Can you explain why we have different charges,percentage wise for the 11 mile,12 mile and street repairs. I have gone back as far as 2006 and the rates change with the year. Why are they not the same percentage every year?

    • David Sabuda
      July 9, 2010 at 3:29 pm
      Reply

      Each road bond debt issue was competitively bid in the open bond market by the City in 2006 to determine:

      1. The yearly interest rate to be paid by the City by debt issue; and
      2. The yearly principal payment to be paid by the City by debt issue; and
      3. The length of each debt issue.

      The City then selected the best bid meeting specifications which was the lowest total interest cost over the life of the debt issues and the best annual cash flow payment scenario.

      Interest rates and principal to be paid by the City fluctuates by year and by debt issue due to that competitve bid process.

      Sincerely,

      David Sabuda, Finance Director/Treasurer

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