And, while the mayor hopes to get more recurrent revenue by trimming the discounts, where will he get money for capital projects? The mayor says they want to re-float that 20 million dollar municipal bond. That would mean rolling over the payments to bondholders that come due in the middle of this year - and paying them back on better terms over a slightly longer period. Deputy Mayor Oscar Arnold - also a banker - introduced that one:
Oscar Arnold - Deputy Mayor, Belize City
"Mayor Wagner along with the rest of the city council team has pledged to look at re-floating the municipal bond but only and I stress to look at capital projects as well as projects that will create opportunities for the residence of Belize City. Whatever contracts that will be given out were the funds of the re-float will be issued will be above board and will be public knowledge."
Jules Vasquez
"Is there a commitment on the part of your council to actually post the tenders online, the contracts online, the disbursements online so that there can be some level of accountability?"
Oscar Arnold
"I don't know if it will be a portal as such but there will be a mechanism in place to ensure that there is transparency."
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