By Ronni Newton, includes “… The POBs will virtually eliminate the town’s existing unfunded pension liability, funding it at 100% while also leveling annual payments for the next 30 years … POBs will create an obligation for the town – a hard liability – as opposed to the soft liability of just paying ADEC … All six Democrats … voted in favor of issuing the POBs. … Fay said that this approach looks at the asset size, but she believes the pension liability is still going to grow and will put the town at risk. In voting against the measure, Fay said she would like to see a more holistic approach to looking at the pensions to ‘drive that liability down.’ …”