City approves debt refinancing plan

Thursday, November 17, 2011

by Brian S. Orban

By increasing the principal paid on the bond payments, the city is expected to fully pay off the $1.59 million golf course project about five years ahead of schedule.

The city could pay off its remaining debt on the local golf course and police department building several years ahead of schedule due to an initiative approved by the city council Monday evening.

Mountain Home is one of nine communities across the state expected to take advantage of lower interest rates to refinance their bonds or certificates of participation this year in order to cover expenses associated with large-scale construction or improvement projects.

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Now all the City has to figure out is a way to get the golf course to at least break even on "operating expenses". Obviously the golfers don't want to pay the cost of their hobby. The taxpayers don't want to pay $20K-$40K a year to subsidize the golfers. Only a government can run a business for 15 continuous years at a loss. So I ask...Is there a viable solution in the works?

-- Posted by bondyweb on Thu, Nov 17, 2011, at 10:07 PM
Sell or lease the golf course to a private company that can produce a profitable business. Taxpayers should never have to subsidize any business. A business should fail or succeed on its own merits.

-- Posted by Jimms on Fri, Nov 18, 2011, at 3:27 PM
Jimms...good idea. Maybe you could approach the City Council and make that suggestion.

-- Posted by bondyweb on Sun, Nov 20, 2011, at 10:51 AM

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