City officials announced that Temecula is debt-free after completing a multiyear plan that eliminated approximately $78.6 million in facility, pension and other long-term obligations while saving an estimated $47.7 million in interest.City Manager Aaron Adams, joined by Finance Manager Jennifer Hennessy, announced the financial milestone during the Temecula City Council meeting Tuesday, July 14.“We can stand here before you tonight and we can declare — we are debt-free,” Adams said, drawing applause from council members and those attending the meeting.Under the city’s definition, debt includes mortgages, facility loans, unfunded pension obligations and other long-term liabilities. Adams said mo
