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City to pay down debt, just like residents, says Rybak

Minneapolis Mayor R.T. Rybak tells residents that reducing debt is a key focus for the city in these troubled days.

In a letter to residents, he says reducing the debt frees up money to pay for police and potholes. And the streets really need work, he said.

“All over Minneapolis right now, people are struggling with balancing their expenses while cutting down their debts. Minneapolis City Government should be no different, which is why I have been so focused on paying down the City’s debt,” he said.

“For too long we have delayed badly needed street repair. But ignoring problems does not make them go away. Too many of our streets, bike trails and light poles are in disrepair and we can’t wait any longer to fix them. We have to act and we have to act now; otherwise, the problems will only get worse — and more expensive to fix,” he said.

“That’s why I am so pleased that the City Council approved my plan to infuse $27.5 million over the next five years (added to the City’s existing five-year $105 million infrastructure plan) to accelerate needed transportation improvements. Doing so addresses our infrastructure deficit head-on, rather than passes on much larger infrastructure costs to Minneapolis taxpayers down the road.”

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