City saved up much of police station's cost.Byline: The Register-Guard How does a supposedly cash-strapped city accumulate Accumulate Broker/analyst recommendation that could mean slightly different things depending on the broker/analyst. In general, it means to increase the number of shares of a particular security over the near term, but not to liquidate other parts of the portfolio to buy a security $29 million to build a new police station? Four years ago, voters rejected a pair of property-tax-funded bond measures that would have paid for a new police headquarters. The response of city officials was to start saving money in order to fund the construction of a new police station and other facilities without having to go to voters and ask to raise taxes. City Councilor coun·cil·or also coun·cil·lor n. A member of a council, as one convened to advise a governor. See Usage Note at council. coun George George, river, c.345 mi (560 km) long, rising in a lake on the Quebec-Labrador boundary, E Canada. It flows N through Indian Lake (125 sq mi/324 sq km) to Ungava Bay (an arm of Hudson Strait). Poling interprets the two public votes rejecting police station bond measures as a message from voters that they favor public safety, but they "want the city to use its own money first to build those buildings." The $29 million that city officials count on for building the new police station comes from money that the city has in hand and what it expects to collect in the future. A one-time $7 million payment from the Eugene Water & Electric Board in 2001, for example, was added to the facility reserve fund that the city created in 2002. City departments make regular payments to the fund as if they were paying rent. The fund's current balance of $7.6 million is expected to grow to $11.4 million in four years. The city also is banking on $10.2 million from telecommunications company See telecom company. Qwest, most of which it received earlier this year in a $9 million payment. Qwest had to cough up cough v. coughed, cough·ing, coughs v.intr. 1. To expel air from the lungs suddenly and noisily, often to keep the respiratory passages free of irritating material. 2. the money, representing six years of back payments and interest, after losing a court case against Eugene last year over the city's right to tax the phone company. A related court case is on appeal, so the city might have to refund TO REFUND. To pay back by the party who has received it, to the party who has paid it, money which ought not to have been paid. 2. On a deficiency of assets, executors and administrators cum testamento annexo, are entitled to have refunded to them legacies the money to Qwest, but city officials think that is unlikely. The balance of the $29.1 million would come from other taxes on Qwest and other telecommunication telecommunication Communication between parties at a distance from one another. Modern telecommunication systems—capable of transmitting telephone, fax, data, radio, or television signals—can transmit large volumes of information over long distances. companies, urban renewal funds, interest earnings on cash balances and various minor sources. - Edward Russo |
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