What is the city's debt ceiling tied to right now? Is it an arbitrary number that has been in place for X amount of years or is it something that changes with city size/population?
Obviously one of the things that I think is important is that if the city is looking to increase debt to keep up with infrastructure improvement needs as the city continues to boom, I think it can be a prudent idea. However, if it's being increased just because they think they should increase it, it's probably a poor idea. Just willy-nilly increasing the debt ceiling might be better done as increasing the debt ceiling for a specific purpose. In example, they could increase the debt ceiling specifically to address transportation infrastructure, or civic capital projects, etc.. I'd be wary that just increasing the pot without any restriction might enable councillors to spend without thinking or looking for alternatives. There's a saying that if you want to come up with creative solutions, remove one zero from the budget from whatever you're trying to do.
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