Eau Claire City Council Raises its Debt Ceiling
Written By: Travis Buhler | Posted: Tuesday, July 26th, 2011
The recent issue of government debt has hit home. While Congress and the President are arguing over how to solve the debt crisis, and while Wisconsin has passed a budget that doesn't borrow money, the Eau Claire city council agreed to borrow $8 million in the form of bonds.
The debt will be used to pay for upgrades to the HVAC of city buildings and for street repairs, particularly the downtown Barstow Street district. The taxpayers of Eau Claire are now obligated to pay interest and principle for the next twenty years. This is in addition to the $98.9 million of debt the City of Eau Claire owes to bond holders.
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