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.