News
First Selectman: Town Debt Has Grown and Will Grow Further; Its Peak Will Be About One Eighth of the Town Budget
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First Selectman Jon Zagrodzky in the selectman’s every-other-week edition of the Town of Darien newsletter (sent out last Friday, Oct. 31). This week the newsletter is mostly about the town debt and bonding:
This past Monday, I delivered a live presentation to the Representative Town Meeting to lay out the facts on town debt, including the bonding process, current debt, and debt service levels, and the path ahead. In my newsletter this week, I thought I would summarize the key points from this address. The Bonding Process
• The Board of Selectmen (BOS) and Board of Education (BOE) sponsor projects; the Board of Finance (BOF) evaluates affordability and taxpayer impact; the RTM does the final appropriation and authorization.