If you have to call down to the city administrator, and the city administrator has to call his advisors, how is your average poor schmuck supposed to know he is going to get a $17,000 electric bill if he chooses the variable rate?
I made the deal originally for a better rate when I got a letter from the mayor who explains how they negotiated a better deal for the township. Then we can dovetail off of it and get the same lower rates. I trusted the township that they know what they're doing. If they didn't then you're right. I could get burned too.
The Texans who got the lower rate like the people who get adjustable mortgage rates are taking chances. They understand the game. What should we do with people who buy a house with an adjustable mortgage and then when it goes up to 8%, they can't afford the mortgage any longer? Should we pay for the guy's home? Whose fault is that? Should we stop adjustable mortgages? Or should we let people be grownups and run their lives as they see fit and live with the results of their decisions? Is the government responsible for the decisions we make in life? Maybe they're making the wrong ones and we know better what we want better than they do, risk and all.