Glidden officials were happy to announce Tuesday night they had successfully paid off the remainder of the city’s outstanding general obligation bonds. City Clerk, Suzy Danner, says Glidden has been paying back loans on the Glidden Aquatic Center and fire station for more than a decade.
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Danner says council members were excited to approve the final payments this month. She notes the real excitement should belong to Glidden’s taxpayers.
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Moving into Fiscal Year 2019, the city will no longer collect a $2.78 debt service tax levy. This equates to approximately a $139 reduction in taxes per year on a $100,000 home. Danner adds that this does not mean the city is debt free. Glidden will be entering into a State Revolving Fund (SRF) loan to finance the community’s new lagoon.