Bridgeport again preparing to borrow ...

Bridgeport again preparing to borrow $$$ for bills

Posted in the Trumbull Forum

bptnews

Matawan, NJ

#1 Jan 31, 2014
Connecticut Postings
Connecticut Post newsroom blog
Bridgeport again preparing to borrow $$$ for bills
Posted on January 31, 2014 | By Brian Lockhart

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As has been the case for the past several years (check out these newspaper reports from 2011 and 2013), the city is again preparing to borrow a substantial sum to keep up with the bills before the taxes start flowing in again.

According to the City Council agenda for Feb. 2, finance officials want members to forward a request to borrow $100,000,000 in “tax anticipation notes” to help pay expenses to the Budget Committee for consideration:

Communication from Finance Department re: Approval of Tax Anticipation Notes to Pay Current Expenses and Obligations of the City ($100,000,000), referred to Budget & Appropriations Committee.

From investopedia.com :“Tax anticipation note financing helps governments smooth out the ups and downs in their revenue cycles, if the timing of their receipts does not match the timing of their expenditures.”

http://blog.ctnews.com/connecticutpostings/20...
Bertrand

Trumbull, CT

#2 Jan 31, 2014
Election Year..Bribes come early..
BPT

Bridgeport, CT

#3 Jan 31, 2014
with all the out of control spending why is this even a story?
get ready soon to see this on a natl. level.
bptnews

Matawan, NJ

#4 Jan 31, 2014
Why Bridgeport keeping borrow money it don't have the city going help down the grain

Since: Aug 10

Location hidden

#5 Jan 31, 2014
Down the drain.

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