When should local governments take on debt?

Flood protection, NAWS, road maintenance and construction, fire stations — these are just a few of the big ticket capital infrastructure projects we in Minot are trying to figure out how to pay for. That invites the question — when should we bond (take on debt) for these things and under what circumstances?

Check out this post featuring a conversation with Strong Towns founder Chuck Mahron on when it makes sense to say yes to increasing the public debt.