Commentary: Open Letter
By MIKE GONZALEZ
I have placed on our first city council meeting agenda in January a new law outlining a debt management policy for the city that among other things places a limit on the amount of debt the city is allowed issue.
I have worked with Mayor Pro-Tem Michelle Lopez, city staff and our city attorney to draft an ordinance that I feel directly address concerns expressed by citizens and fellow council members regarding future long-term debt possibly incurred by the city.
As the fifth fastest growing city in Texas, our prior need to vastly improve and grow our infrastructure was self-evident. The debt funded capital projects completed over the last five years were so critical to our city that they received overwhelming community support. These capital projects improved safety, spurred economic development and improved the overall quality of our community for all citizens.
But now, we find ourselves in a period of great change. Change in community support for new and somewhat competing capital projects. Change in our city’s leadership. Change in the overall national economic climate.
While we face these uncertainties, there is one truth we can all agree on: overburdening our citizens and our city with excessive long-term debt will only result in negative consequences.
As we have seen with a growing national deficit, too much debt incurred by a city places a great weight over citizens, economies and grows a long shadow over the future.
This new “Fiscal Accountability Ordinance” limits the total amount of long-term debt the city is allowed to incur in relation to the city’s total Assessed Valuation and General Fund revenues. Just as American families must do, Kyle will continue to build for its future while living well within our means.
This agenda item was only posted for discussion, but if the Kyle city council ultimately approves this ordinance, our citizens will no longer have uncertainty over the future debt position of our city. I hope that citizens and my fellow council members will support this new ordinance. Let us continue to work together with purpose as we move Kyle forward.Email | Print