Maureen...I can't thank you enough for the work you do on this. I have
a couple of questions, answer if you can or are up to it.
Is the 5+ Mil a currently existing debt or funds that the city needs
for future expenses? I think its the existing debt, so the new bond
would be sort of a refinance?
What happens if the city can't sell the bonds?
I am confused by this:
Under the state program, the state will defer a portion of its aid
promised to the city in the amount of the note payments for the year,
placing it instead into an escrow account. This would be the
equivalent of having money withheld from your paycheck for payment of
a debt.
Is the aid you mention the 14 mil-ish the state already agreed to? so
that the aid would be used to pay the 5+mil debt?
excuse my ignorance and thanks again!
gabrielle
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