The city's official debt load looks massive on paper. Taxpayers don't need to worry about that large number, the real debt is a different story according to city budget officials.
The annual designing of the municipal budget this month brought to light the amount of money the city owes due to borrowing. It is a natural part of running any local government, but indeed looks large on the books. In 2009 the amount of external debt was about $17 million.
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