Mayor Engen – Why Missoula Won’t Go Broke [AUDIO]
Several cities in California have recently declared bankruptcy due to unfunded pension systems, falling tax revenues and overspending. Scranton, Pennsylvania placed all of their city employees on minimum wage, which violates their union contracts.
Missoula Mayor Jon Engen says this situation is not in Missoula’s future due to careful budgeting oversight and steady property tax revenues. He says the city’s positive credit rating allows it to borrow money at a lower rate, thus saving the taxpayers even more money in the long run. Engen says the city has also refinanced some of its outstanding debts at a lower interest rate saving hundreds of thousands of dollars.
Missoula Mayor Jon Engen