Revenue-Aniticipation-Note borrowing
February 8, 2006
Bridgewater
Raynham
Easton
East Bridgewater
West Bridgewater
Massachusetts
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Bridgewater-Raynham Schools
Massachusetts
USA
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Joseph Gillis Jr.
You can do something!
Continuing the story from January 22nd, Bridgewater borrowed another $3,000,000 on January 20th to pay off the previously borrowed amount from last November. Current count: estimated $82,333 in interest costs, plus the costs for the borrowing (i.e. Bond Counsel).
Is this the plan for Bridgewater? To continue to borrow to pay its day-to-day operating expenses? That is a lot of money wasted, and lost forever. Ask someone why the Town continues to borrow, and borrow again to pay back the first borrowing.
[ 2/16/06, added the following lin as the source for the information on borrowing]
http://www.dls.state.ma.us/mdmstuf/debt_otherfinancialindicators/statehousenotesfy06.xls
