Comments on: Town Council Rolls the Dice on Interest Rates https://capecharleswave.com/2013/11/town-council-rolls-the-dice-on-interest-rates/ Your Online Newspaper in Cape Charles, Virginia Fri, 07 Aug 2015 21:55:09 +0000 hourly 1 http://wordpress.org/?v=4.1 By: Deborah Bender https://capecharleswave.com/2013/11/town-council-rolls-the-dice-on-interest-rates/#comment-25794 Thu, 14 Nov 2013 11:07:11 +0000 http://capecharleswave.com/?p=10042#comment-25794 Months ago I spoke at a meeting. I had spoken with many town clerks from other towns on the Eastern Shore. I spoke out about the fact that we have more employees than any other town on the Shore. I called for them to TRIM THE FAT. That way they would have more money without raising sewer bills and taxes. Not only did they ignore what I was saying, they actually hired more people and raised taxes and sewer bills. This town has become the laughingstock of the Shore.

]]> By: Jack Forgosh https://capecharleswave.com/2013/11/town-council-rolls-the-dice-on-interest-rates/#comment-25763 Wed, 13 Nov 2013 14:31:58 +0000 http://capecharleswave.com/?p=10042#comment-25763 On one hand, investing in infrastructure is both prudent and necessary; however, interest rates are at historic lows and as many of us know (through our mortgages), interest rates have been trending down for 30 years now. At some point, as our domestic economy strengthens, interest rates will begin climbing. By then the Town will not have the luxury of locking in a fixed rate loan. This is so irresponsible of our “leaders” (politicians) and very irresponsible of Davenport & Company. Think about it this way: You can have a 3.1% loan fixed for 15 years or a 2.65% loan for 10 years and then another 10 years with a rate not yet determined. And for Davenport’s David Rose to assume the rate won’t change is more than negligent, it is reckless! The .5% saved over the next 10 years is insignificant compared against the risk of a rate hike to 7% to 10% during the next 10 years. Outrageous!

]]> By: Kearn Schemm https://capecharleswave.com/2013/11/town-council-rolls-the-dice-on-interest-rates/#comment-25762 Wed, 13 Nov 2013 14:24:26 +0000 http://capecharleswave.com/?p=10042#comment-25762 Keep the 5% loan until it’s paid off. Get any new loans for the 15 year period at a fixed rate. This is a no brainer. The citizens of this town need to know what their debt obligations are, not guess about them. Perhaps the Town Fathers will give this some thought.

]]> By: Don & Deborah Bender https://capecharleswave.com/2013/11/town-council-rolls-the-dice-on-interest-rates/#comment-25759 Wed, 13 Nov 2013 11:54:29 +0000 http://capecharleswave.com/?p=10042#comment-25759 The town of Cape Charles is in trouble. The people running this town are going further and further into debt. Somehow these people need to be stopped before they put us so far into debt there will be no digging out.

I would love to know what kind of debt we had before Mayor Sullivan took over compared to the debt we are in now.

Everyone knows variable rate loans are bad news.

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