De Blasio would be required to report debt repayment plan under news NYC Council bill

Kallos contends that the new reporting requirements proposed in his Council bill would make matters more clear. The bill would require that terms of debt repayment be made public through required financial disclosure filings. It would also require that elected officials disclose the length of time scheduled for repayment, the interest rate, any terms allowing for non-payment and “if no terms exist, a public statement explaining why.”