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Why can’t Debt Service be cut to lower taxes?
Debt service payments are scheduled principal and interest payments to bondholders. If the city were to stop paying its debt service requirements, it would be break its contractual obligation and ruin its credit rating.

Finance-Budget

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1. Why can’t Capital Improvements be cut to lower taxes?
2. Why can’t Debt Service be cut to lower taxes?
3. How does Norwich’s spending compare to other communities?
4. What can Local Capital Improvement Program (LOCIP) funds be used for?
5. Why is it important for the City to maintain its fund balance and fund its pension obligations?