Currently, Tauranga City Council's debt is something close to half a billion dollars.
They skillfully managed this by growing a debt of $70 million in 2004, which on its own is a frightening amount for a non-productive, non-earning organisation to owe.
Ratepayers of Tauranga need to be clearly aware this increasing debt will get so overpowering that when interest rates rise people with mortgages may forfeit homes, because they simply won't be able to pay massive rates, to pay for TCC debt.
With the increasing rate of debt the council finds itself in, it won't be too long before it owes $1billion. Now think about this because there is certain inevitability here.
We simply have to have a change in Tauranga and it has to be now, as it is close to being too late for all.
A management team in the real world that racked up such a massive debt in such a short time would be sacked long before debt got half a billion dollars.
Think about that folks.
Alastair Bourne, Bethlehem.


1 comment
Alastair
Posted on 10-10-2013 16:00 | By YOGI BEAR
I agree with you, the path now is much of concern for all not just those aware of it but those who are not yet but soon will be as the rates bills will sky rocket as rates are the only way to remedy the problem unless major changes are made ASAP.
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