New bond rating will save town money

“I think in this day and age, when you have towns going bankrupt … this is an amazing accomplishment,” said town attorney Michael Magguli.

When Mahan took office in 2008, the town had a deficit of more than $20 million. Through a deal to let a private contractor run the landfill and a voter-approved one-time tax, the town closed the deficit.

“In 2010, we still had the deficit. We were in the deficit situation. We probably wouldn’t have this bond rating,” said Blair pointing to how far the town has come since then.

Mahan’s administration has spent the past three terms tackling the deficit issue, and Mahan said she is proud of the steps they have made.

“We monitor our finances very carefully. I work with the comptroller’s office on a daily basis, and we watch every penny,” said Mahan. “We’re moving in the right direction, and we have to keep moving in the right direction.”

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