FORT WAYNE, Ind. (WOWO): The City of Fort Wayne has seen its total debt shrink by almost 25% over the past couple of years.
The City’s outstanding debt stands at just under $140-million. On January 1st, 2016, that number was closer to $166.6-million.
Councilman Russ Jehl tells the Journal Gazette the Council is standing up to its responsibility of improving the city’s financial health through paying off bonds and capital leases.
The city is about $36-million below the legal debt limit. City Controller Garry Morr says the city’s been paying its bills and growing assessed value, leaving more room for future investments.