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Panel keeps $15M/36-month borrowing limit in draft, urges council study and clarifies petition timing
Summary
The committee left the charter’s 36-month/$15 million limit on general-fund-serviced contracts in place for now, recommended the council study alternative formulas, and removed proposed language that would suspend challenged ordinances pending a referendum while retaining a 90-day reconsideration period.
The Charter Review Committee on Jan. 26 reviewed the charter text that restricts the City Council’s ability to enter leases, lease-purchase and other unfunded multi-year contracts whose repayment either exceeds 36 months or exceeds $15,000,000 serviced from the general fund. Committee members said the current language is unclear in places and debated whether to convert the limit to a percentage of the…
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