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Do we really need more debt?

May 15, 2014
The Town Crier

DEAR EDITOR:

In the April 16, 2014 Canfield City Council meeting, an ordinance was introduced for the city to borrow $1,240,000.00 million dollars for debt restructuring and building improvements (a max of $500,000.00 for the police dept building). The ordinance was defeated by a 2 to 2 vote with one councilperson absent. In the May 7 Council Meeting, this ordinance was once again on the agenda. However, council first had to vote to discuss the ordinance. This vote was 3 to 2 against discussing this ordinance and it was dead

In my opinion, had the debt restructuring been a separate ordinance, it had a good chance to pass. However, council chose to bundle the building improvements in the ordinance and ram it through. It reminds me of the shenanigans in the federal government bills with all the special favor earmarks. The ordinance was poorly constructed and fortunately, cooler, fiscally conservative heads prevailed. Let me say that I cannot say if the police dept expansion is or is not needed. If absolutely needed, why not appropriate some dollars each year into a fund for this purpose?

Just for the record, as of Jan, 2014 the City of Canfield had $1,200,864.00 in outstanding debt. In 2014, the payment on this obligation is $220,751.00. Do we really need more debt?

Early this year, at a manager's meeting, the ideas of a capital improvement levy and / or an increase in the income tax was discussed! Typical government, tax more, so we can spend more, go into debt. Does it not make sense not to spend money you do not have? Reduce spending to a level that matches the income. No more debt or taxes unless for emergencies.

Canfield residents, get involved! We are the government!

Sincerely,

Frank A. Micchia

Canfield

 
 

 

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