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Residents press council on rising bond debt as levy pressure grows
Summary
At the public forum Greg Lindsey and other residents warned that multiple overlapping municipal bonds and rating downgrades are raising property tax pressures. Council members said they recognize the issue, will discuss it in the upcoming budget process, and cautioned about tradeoffs between debt service and infrastructure needs.
At the Oct. 28 public forum, resident Greg Lindsey presented a list of the city's outstanding bonds and warned that overlapping debt service is driving a near-double-digit levy increase without immediate signs the burden will ease.
"This debt is driving our levy," Lindsey said, listing multiple bond issues and saying the city's bond rating fell after 2020 bond issuances. He estimated that, "if you 0 out your…
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