For A Few Dollars More - Sorry Sergio Leone

Had to use the title


We will be asking the Council to approve paying off one of our bonds early. We have the funds in this account to pay it off early and this will save us $37,000 in interest expense. We are organizing our City accounts to maximize our investment returns and ensuring a transparency and clarity of information.

Last year we had for the first time put out a Request for Proposal for our City deposits. This yielded excellent returns. This is all part of an on going process to make sure we are managing the Taxpayers money in as efficient a way as possible. The more money we save and or earn interest on the smaller the burden on our Taxpayers.

In the last two weeks we have saved $27,000 on interest expense from our recent bond rating improvement to A+ and if the Council approves our early debt retirement another $37,000. Every dollar counts in the best of times but as we face significant challenges including the State taking back what has already been promised it is all the more important. Fiscal discipline and planning are great things.