(CLACKAMAS REVIEW) -- Milwaukie taxpayers might not save as much as originally predicted (I love the way they frame that) by voting for a bond measure to pay TriMet the remainder of the city’s financial obligation for the light-rail project.
Without a bond refinancing their debt, Milwaukians would pay more to the
regional transit agency in the form of interest, although the potential
savings amount is decreasing as the national economy improves.
City officials say the estimated savings (savings, right see how we are 'saving' you money) dropping, from $850,000 to as
low as $400,000, doesn’t affect the basic arguments in favor of the
measure that the City Council is expected to refer to the county clerk
by a March 21 deadline. In the meantime, rising interest rates might
continue to whittle down the financial benefit of refinancing the $4
million debt.
Rising interest rates hit Milwaukie bond proposal
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