Two Rivers’ City Manager wants to make sure the City continues to borrow money responsibly.
A resolution from Kyle Kordell explained that it would set a self-imposed “Debt Cap” equal to 60% of the state legal limit, ensuring that the City never borrows beyond what is “sustainable.”
Kordell tells SeehaferNews.com that right now, Two Rivers is at 38% of the debt limit and dropping, and that the City is paying down debt faster than most municipalities in Wisconsin.
The City Council is also considering indexing capital purchases directly to the rise and fall of property values in the Cool City.
Kordell explains that this will “provide flexibility in future community investment while also linking the annual capital investment amount to real values. It’s part of an approach to plan and invest in our neighborhoods, while remaining financially prudent.”
The resolution would also ensure that long-term borrowing is limited to true capital projects and that no bond or note exceeds the useful life of the asset being financed.
Kordell also wants to ensure that all financial reporting and bond disclosures remain transparent and accurate.
A copy of the resolution can be found under the City Council’s Work Session meeting agenda.
That can be found at two-rivers.org/meetings.
