Hi Everyone,

As you may know, when the budget was approved at the end of last year, the Commission did not include any 2009 road maintenance. Mt. Lebanon typically has been spending about $1M a year to maintain the roads (either via resurfacing or reconstructing depending upon the condition of the road). I am a big believer in “prevention is better than cure” and feel that we need to continue maintain our roads in a “preventative manner”.

The question of issuing bonds for road maintenance came up for the Commission’s consideration last month. I reached out to Willy McKain, Mt. Lebanon’s Finance Director, and he indicated that we retired $1.6 Million in debt principal last year and we were retiring $1.4M in principal this year. (The debt for the Library construction was completed and retired as of last year). Given that we are retiring about $3M in principal and have not issued any bonds last year, I have indicated support for up to a $2M issue (to take advantage of the amortizing the bond issuance costs over a larger bond value) for two years of road maintenance. The principle on the debt outstanding will still be at least $1M lower than it was two years ago, even after this bond issuance.

Continuing to keep our roads in good condition is a priority to me. Thanks.

Raja