Kudos to the New Braunfels City Council for taking action to save $300-400K in annual interest payments over the next ten years. Refinancing debt with a lower interest rate would make most credit institutions proud: The debt changes but it doesn’t go away.

The problem is debt. Why does a prosperous county such as ours have to borrow almost a billion dollars in long term debt? What would happen if we taxpayers funded our personal lives in this manner? Borrow money every year and fix it so our kids must pay it back. The federal government prints money to pay its debts. Comal county can’t print money, so the next best thing is to pass bond issues. The debt burden increases with each new bond issue and the kids end up paying for it. Kids should be able to afford to live in the town where they grew up.

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(1) comment

Richard Johnson

I agree that debt is not something we should want, but running a City Government requires large capital expenditures, something that can't really be avoided. Now, each of those expenditures needs to be evaluated at the cost benefit to the community. Some, actually are money matches to a federal grant, that gets the community a bigger bang for the dollars spent. Not doing it means that the grant money goes away, as does the opportunity. I also don't like paying interest, but today's rates are absolutely great. As to the "rich" investors, that sir is a fairytale that liberal socialists use to make a straw man argument. Most bond holders are small investors trying to keep what they make so they can eventually retire. So, think again about that argument.

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