Low interest rate
Brainerd City Council member Kelly Bevans, who is chairman of the Finance Committee was one of the six council members voting in favor of borrowing $980,000 for capital improvements, the taxpayers would be responsible for principle and interest payments with an increased tax levy. A petition signed by registered voters stopped the council from borrowing $980,000, unless the voters approved the borrowing.
Council member Bevans is quoted in the Brainerd Dispatch with the following statement: “it was incredibly disappointing not to take advantage of low interest rates on the bond.” Is that the criteria Mr. Bevans would use to borrow money in his own business? Normally money is borrowed because it is needed for business operations and hope the interest rate would be as low as possible. As a city representative I would think Mr. Bevans would do his research and have information showing that the money is really needed for operations before voting to borrow the money just because there is low interest rates.
BOB OLSON is a former Brainerd mayor and former Brainerd City Council member.