Tag Archives: Bank of North Dakota

Could Clackamas County Reduce Its $37 Million Debt Service?

Third in a series about issues identified by Clackamas County Democrats at their recent platform issue meeting.

The prior article in this series described how the Bank of North Dakota works. This article will provide information as to whether or not a similar bank concept could save money for Clackamas County, our special districts, education system, and cities.

Clackamas County government, not including all the special districts and cities, has a long term debt of more than $248 million. It will have to pay more than $37 million in debt service. In terms of bonds issued with the full faith and credit (FFCO) of the county government, the county pays about $29 million in interest annually. Adding revenue bond interest of $4.3 million results in some $37 million in interest every year. Continue reading

Can We Learn from North Dakota the Value of a Public Bank?

This is the second in a series of article exploring issues that were identified by County Democratic Precinct Persons at the County Platform meeting

There is a publicly owned bank in North Dakota, has been for decades. It did not need a bailout during the 2008 crash because it had not engaged in reckless speculation.

If North Dakota, perhaps one of the more conservative places in the US, can have a public bank, should we? What would it or could it do? And why would we want one?

Apparently there is a national movement to protect public monies from the abuses of Wall St. Remember the Libor scandal or the housing bubble of 2008  to mention just two recent scandals that defrauded billions of dollars in fees from public accounts, including our own local and county governments. Continue reading