A common argument against the AF road bond is that the City is already $56 million dollars in debt. How much is that, exactly? Its 1.07 times the Citys annual budget. To put this in perspective: the typical household mortgage is 2 to 3 times the annual household income. So the City is actually MORE conservative than most AF households in its use of debt. And, like your home mortgages, the Citys debt has only been used to finance long-term, high value projects that hold their value long after the debt is paid off: projects such as a water delivery system, the library, and the public works building.
Posted on: Tue, 22 Oct 2013 03:52:32 +0000
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