An uncertain economy prompted Northampton County Council last night to reduce a contemplated $22 million bond to $16 million. Members instead voted, 8 to 1, to support funding for juvenile detention center ($5.5 million) as well as parking deck($1.5 million) and bridge repairs ($1 million). In addition, the County will refinance $8 million in previous bonds at a lower rate. Charles Dertinger was the sole dissenting vote.
When Diane Neiper asked why the County could not use funds on hand, County Executive John Stoffa answered with an ominous warning about the pension fund. "We put $6.5 million in, we just found out we have to put $6.7 million in. Next year, it's going to be more. We can't keep gobbling up money from that fund balance or we're going to have to raise taxes. That retirement fund is looming there with significant numbers behind it."
Today's one-liner: "The shortest way to the distinguishing excellence of any writer is through his hostile critics." Richard LeGallienne
Local Government TV
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Friday, May 08, 2009
1 comment:
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Thank God for Charlie Dirtinger on Northampton County Council. He is the lone voice of reason in a sea of tax, borrow and spend. And Keep fighting Rong Angle Charlie !
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