True or False: Long-term borrowing is justified for the purpose of acquiring, constructing, replacing or repairing buildings and other facilities that cities and towns use to provide local government programs and services.
Answer: True.
These facilities — including parks, police and fire stations, water and sewer infrastructure, and recreation facilities — have a relatively long life. Other expenditures for relatively short-term or recurring purposes, such as operational expenses and staff salaries, are generally not funded through long-term borrowing measures.
The Municipal Elected Officials Institute of Government offers online courses. In-person classes will resume when COVID-19 activity drops to safe levels. To register for the online courses, visit the MEO Institute of Government webpage and log in with your user identification number and password.