Pay up Milwaukie, we are helping you, really

 (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