Kingsport, Tennessee Mayor Phillips is making history with out of control spending
Actual $107,100,000
During Mayor Dennis Phillips time as mayor, the amount above in new bonds (debt) has been issued . The mayor has a little less than a year left in his current term and there are plans to add more debt such..The Aquatic Center ($15 million) has not been approved and is included in the total below.Actual and Planned $123,100,000
Mayor Dennis Phillips clearly will make history as the Kingsport mayor who spent the most of the taxpayer, children and grandchildren money.
Mayor Phillips may have been a former banker and is used to working with other peoples money. But he should stop to think how the citizens feel about the financial types. I will say that the finance folks have a very unfavorable rating because of what is transpiring with failed banks foreclosures, Lehman Brothers, AIG, Merrill Lynch, etc
Mayor Phillips also had help in acquiring this debt by the Vice Mayor and other Aldermen. Aldermen Marsh and Shull voted the most against new debt.