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City's Pension Fund Returns Compare Poorly with Those of Peers
Probably, the City will float some bond measure to continue paying the day to day expenses. I would love to find out how the city spent its muli-million dollar check it got from the tabbacco company settlement.— April 8, 2009 6:19 p.m.
City's Pension Fund Returns Compare Poorly with Those of Peers
Just curious, why has the city not declared bankruptcy . . . yet. I work in the developmental services department (building permits etc.)and I see alot of $85,000 employees (plus benefits over $140,000), doing little to nothing all day, and believe me there is not alot of building going on in the city!), with property taxes falling, not counting 24,000 appeals for lower taxes, yet to kick in, I just do not know how the city pays its bills? I wonder if the $100,000,000 bond for sewer upgrades will be used to pay the city's day to day expenses, our department could easily lay-off half its staff and there would be no effect to the public regarding services, turn around time on permits etc. When I go out to lunch at fire station #1, I will see an occassional $165,000 fire captain holding up the side of the building, I guess they are still getting paid. Intersting, a puzzle to me, but my paychecks have not bounced, yet! and pretty much any employee around here can work overtime, (some of those meetings run a little late), somethings got to happen this year.— April 8, 2009 3:58 p.m.