Borough can hold $291,000 unforeseen state payment as cushion for bond debt
September 28, 2022
Wrangell has received $291,566 that it was owed by the state but never expected to receive, and could hold it as a cushion to soften the debt payments on bonds to repair school buildings and the Public Safety Building.
Borough Finance Director Mason Villarma said last week he would recommend to the assembly that it move the money into the debt service fund, keeping it there if needed to help with payments on the proposed bonds, easing the pressure on property tax payers.
Wrangell voters are being asked in the Oct. 4 municipal election to approve two bond sales for the building repairs, tota...