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