The Shadrach Solution: Slush Fund #5 - Escrow of Bond Debt
- Tom Shadrach
- 5 days ago
- 1 min read
Every time City Hall borrows money, taxpayers are responsible for paying it back...with interest. We have an obligation to manage every borrowed dollar as carefully as we manage every tax dollar. If there is a legal and financially responsible way to reduce our debt, lower interest costs, and save residents money, we must pursue it. Unfortunately, Cape Coral hasn't always taken advantage of those opportunities.
The documentation below explains how escrowing portions of the City's bond debt could reduce interest expenses and save taxpayers money over the life of those bonds. My philosophy is simple: before government asks residents to pay more in taxes, fees, or assessments, it should first demonstrate that it has done everything possible to lower its own borrowing costs.
Every dollar we save on interest is a dollar that stays in the pockets of Cape Coral families instead of going to the bond market. That's the kind of financial stewardship I will continue fighting for because taxpayers deserve a government that treats their money like its own.
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