We oppose the Parks Bonds. $66 million in Bonds would create a $128 million debt with a $62 million interest cost over 30 years. Our annual city revenue is $21 million. Parks can be improved over time and within budget for half the cost.. Half the money we use to pay off bonds is wasted on interest and fees. We would be spending this on low use, expensive public parks and venues. Not smart.
We oppose the Redevelopment Referendum. This would allow the city council to appoint unelected, unaccountable Tax Authorizing Districts (TADs), with unrestricted Eminent Domain powers over private property and authority to issue bonds without voter approval. We don’t have long-term blighted areas and should let property owners sell their own property without tax-payer bail-outs. TAD projects create boondoggles
We oppose the E-SPLOST, This is a 1 cent, five year sales tax extension for DeKalb schools. The passage of the tax triggers Bonds and bonds cost double. Debt service payments of principle and interest on these bonds is $91.63 million for 2012. These borrowed funds pay for building maintenance, renovation, construction and equipment. The tax will generate $475 million. Their annual budget is $774.6 million for 2012. These folks build magnificent buildings, but the student performance continues to be poor in most of the county. Less political indoctrination and more reading, writing and math would be nice. It’s time to stop wasting money on bond interest and fees.
Norb Leahy Dunwoody GA Tea Party
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