"The solution proposed Monday night
would have had the city borrow $1.4 million from a trust fund set up after the
sale of the Coatesville’s water and wastewater system assets. The money
borrowed would be used for various expenses on an as-needed basis.
Council Member Ed Simpson felt that
by doing so, they were just delaying the inevitable. Instead, he wants taxes
increased to deal with the deficit, as council would eventually have to raise
taxes anyway.
“The reality is the cost of
services goes up every year,” he said.
Simpson said that the trust fund
money could then be used to invest in businesses that could make money for the
city.
“We need to find ways that we can
invest that money to benefit the city to make it a destination for some of the
year or increase revenue or increase taxes,” he suggested.
Simpson said that Coatesville
could, for example, invest in the velodrome project to generate income for the
city."
I really, really like what Ed said last night.
SEE:
The Coatesville Times
June 11, 2013 | 0 Comment
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