I could use a little help. The City of Asheville is, like most local governments these days, scrambling for the s-word (which, by definition, is the printing of US currency for make-work). A resolution up for consideration would seek funding for six stormwater projects, to be made available from the newly-printed (a.k.a. ARRA) funds, via a state loan, to be repaid by taxpayers and ratepayers. The resolution states in part:
That the Applicant will adopt and place into effect on or before completion of the project a schedule of fees and charges and other available funds which will provide adequate funds for proper operation, maintenance, and administration of the system and the repayment of all principal and interest on the debt.
The loan will be zero-interest, and the debt-ridden state will forgive half the loan, but I still see increased taxes and/or rates.
