Accountability   |   Transparency   |   Trust

As members of the Hamden Democratic Town Committee, we are requesting that the Legislative Council use extreme caution in proceeding with a debt restructure.

Therefore, we request that the Legislative Council not vote on Wednesday, June 24, 2020 regarding debt restructure for the following reasons.

  • Restructuring of town debt is a very complicated process that requires careful deliberation.
  • It is important that residents have the ability to hear and evaluate the information and the implications of all actions that may be taken.
  • Public comment should be allowed after such information is presented.
  • It is important to identify why and for what specific projects the Mayor is requesting to use a Tax Anticipation Note (TAN) when 50% of tax revenue in July 2020 is expected to be received by the town.
  • Debt restructure should ONLY be considered if the debt, along with the cost of restructuring the debt, guarantees savings now and in the future.