Minneapolis Pension Levies
From:
Michael Katch
Date:
Mar 28 05:25 UTC
Short link
>How much pension money is coming from our Legacy(Hilton) fund?
Answer: None
>Is the accounting for that separate from the NRP common project transfers to
the Legacy fund?
Answer: They are separate
If this was in fact the truth, then CM Clovin Roy was not telling the truth at
the east Nokomis community center last fall, she along with Tara Barenok from
the mayors office told us that the city borrowed $26 million this year from the
Legacy fund leave about $18500000 remaining and that money would probably be
spent to cover a portion of the close ended pension liability this year. Tara
told me that it was better to liquidate the Legacy fund than to bond the
outstanding debt comparing it to paying off one visa card with another. I
realize that the money that the city obtained from the Legacy fund was intended
to be a loan to the city, but I suspect the city may never pay this loan back.
They wont have to if NRP no longer exists.