November 25, 2015

Gardner debt reaches over $100 million

The city of Gardner currently owes $111.6 million including principal and interest, and not all of the debt is bond debt. Car lease payments were included in Gardner’s figures, for example.
Public debt also won’t be paid equally by all citizens. Gourley used the swimming pool – which comprises approximately $11 million of the city’s debt – as an example. The aquatic center’s debt is primarily paid through a half-cent sales tax.