Quinn on Prepaying Debt

Here’s Christine Quinn explaining to reporters yesterday why she thinks the city has to use its newfound surplus to prepay future debt obligations.

At about the 1:30 mark, Quinn says, “Every budget gets judged by the amount of prepayment of bills and debt is the same, greater or less than the year before. And if we pay fewer bills in advance in one year compared to the year before, we will be deemed to be in a structural deficit.”

Quinn on Prepaying Debt