Dixon Council Takes First Step Towards Selling Over $22 Million in Bonds to Help Pay Down Pension Costs – WIXN (Dixon)

City Manager Dan Langloss said if the city was already at 100% funding the cities pension payment would be at $500,000. The hard truth is the cities payment this year is $2.5 million and it is fast approaching $3 million. Langloss said the city, even with the economic growth, cannot afford to pay that much yearly.