David Brauer, our esteemed moderator, rightly drew
attention to the "interesting contention" on the part
of City Coordinator Kathy O'Brien that adding debt
load with the new library plans would not affect the
city's bond rating. Indeed!
This would seem to be a refutation of Wally Swan. I
emphasize the subjunctive "would".
Another person, I forget who, wondered aloud why there
was so little response to Councilman Lane's cautionary
reference to the bond rating of Indianapolis, a city
it appears is only slightly ahead of Minneapolis in
the budget deficit sweepstakes. This person points out
that Mpls. is poised to nose ahead of Indianapolis.
Whoopee!
All this leads me to wonder what our new finance
director, Dr. Christiensen is it?, thinks about all
this or is he still trying to get up to speed?
>From a layman's point of view, I think it looks bad
for the bond rating. How that shakes out in the actual
numbers and cost of selling bonds I wish I knew.
To make an informed decision it would be helpful to
know the risks we run. Someone must know and if they
don't we're in even worse shape than i thought.
Imagine that!
Tim Connolly
Ward 7
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