The Dotte Disputes Mayor Garner's Fear Of Impending Bankruptcy

We'll start by revealing our bias . . .

Hearing politicos talk about dire economic circumstances is a WELCOMED bit of honesty about the debt-centered approach to finance enacted by most American municipalities. 

Of course . . . 

Kansas City's "non-profit" news cartel objects and platforms lesser politicos who put their faith in bond rating agencies . . .

Bankruptcy, he warned, sat just around the corner.

But the bond markets tell a different story.

Earlier this year, the Unified Government received a decent A1 bond rating with a stable outlook from Moody’s Investors Service. The UG also has not informed bondholders of any threat of bankruptcy. If Wyandotte County actually found itself on the verge of financial collapse, it would have been required by law to warn the investors who might buy its municipal bonds that the UG was a dicey bet.

“Bankruptcy is not happening,” said Angela Markley, who represented District 6 on the UG Board of Commissioners for 12 years until her term ran out this month. “That doesn’t mean we don’t have any financial problems to solve. It just means that our problems are solvable.”

Read more via www.TonysKansasCity.com link . . .

No, Wyandotte County is not going bankrupt.

Mayor Tyrone Garner said the Unified Government is headed towards bankruptcy. But the bond markets tell a different story.