“Windfall” dilemma?

Would you keep remitting payments to the bank once your mortgage is paid off? Of course not. This seems to be a dilemma, however, for the city of Minnetrista that has been making payments to the city of Mound for the bond taken out in 2004 to pay for their municipal building/fire station. Minnetrista contracts with Mound for fire services and, along with the other cities Mound fire supports, has been paying $68K annually to help them pay off the bond. The bond will be retired in 2022. Here’s the brief discussion from our meeting December 2:

 

Mound fire youtube discussion
Discussion of $68K “windfall” to city of Mound

 

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