According to figures from Amber Fowles, city Finance Manager, from 2005 to 2008, Syracuse City took out $15 million in debt for new buildings. That’s a lot of debt!
But that’s not all! Those bonds don’t include the $2 million bond issued in 2005 to develop the Jensen Nature Park.
In 2010, Syracuse City Mayor Jamie Nagle was frustrated with the all that debt:
“Compounding matters is the fact previous leaders have taken Syracuse to its maximum bond debt to build a new city hall and fire station.” (emphasis added)
With Major Jamie Nagle going on record that Syracuse City has been taken “to its maximum bond debt”, why is she trying to shackle us with even MORE debt?
My late-father had some good advice that he picked up from his experiences growing up during the Great Depression:
“Once you’ve found that you’ve dug yourself into a hole, the FIRST thing you do is STOP DIGGING! You can’t get out of the hole if you keep digging it deeper.”
Mayor Nagle, you’re in a hole. While it’s true that you may not have dug it all yourself, the advice is the same: STOP DIGGING! No new debt!