I mean we’re looking
down on Wayne’s basement, only
that’s not Wayne’s basement.
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Cake day: March 4th, 2024
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You mean, could a mayor take surplus tax revenue and lend it out to earn interest (buy bonds)? I suppose that’s possible, assuming the city council approves.
Cities usually have the opposite problem, though. Voters didn’t like to pay taxes, so cities operate with very little surplus cash. They often need to borrow money (issue bonds) to pay for capital projects like new school buildings.