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Tuesday, April 10, 2012

Common Councillor Reveals Interest Charges On Pension Deficit

City taxpayers are being hit big time in just interest payments on the city's financially beleaguered pension plan. 

That word from Ward 2 Common Councillor Patty Higgins who tells CHSJ News Council was told the daily interest payments amounted to almost 40 thousand dollars a day when the deficit wasn't as high as it is now. 

Meantime, the defamation trial of former Common Councillor John Ferguson is heading into the home stretch. Testimony resumes tomorrow morning with City Solicitor John Nugent winding up his cross examination and then Ferguson will take the witness stand.