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Trustee proposes using grocery tax to seed permanent fund to offset water bills; staff to study
Summary
A trustee proposed keeping grocery tax revenue in a protected fund to grow by investment and use interest to subsidize residents' water bills; staff agreed to investigate feasibility and report back at the April 22 meeting.
A Village of Oswego trustee proposed creating a permanent fund, seeded by grocery tax revenue, to generate investment income that could be used over time to reduce residents’ water bills.
Trustee Kurt proposed the idea during board remarks, describing a plan to retain grocery tax proceeds in a protected municipal fund and to use interest earnings to offset water bills for qualifying residents. “What I’m actually proposing is that we actually keep that…
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