With Kelly Fraasch's presentation just a few days away, the Trib ran this article
Official seeks support for rec spending. Go to
http://www.kellyfraasch.com/2012/08/01/recreation-in-mt-lebanon/ to read more about her comprehensive plan which was posted on August 1.
A question and this is not aa comment on Kelly's plan, but when did it become acceptable to float a bond at the drop of a hat.
ReplyDeleteYes, you float a bond (take out a mortgage sort of speak) when you want to do something like build a municipal building or build a NEW swimming pool or a new library, rec center.
It seems to me though, we float a bond just to float a bond. We floated a bond to pave streets a few years back. Shouldn't that maintenance come out of normal taxes? It's not like the municipality was surprised by the need. Like they had to build a new road. These roads already exist. They know they need to relaxed every year. So why was the money in the bank to do it?
I hope what every we do say on the pool make a commitment to maintain it once it's done.
That is when planning the pool and it cost say $5 million. Someone better be looking down the road and accounting that wear and tear maintenance might be $XXXXX every 2 years to keep it in tip top shape.
I mean who in their right mind buys a corporate jet and then a yeR latter discovers they have to take out a loan for the fuel, pilot and hanger.
If that's the case maybe you can't afford the jet!
I think most people would say you float a bond when you are making a capital investment.
ReplyDeleteIn this case, that is exactly what this is. Remember a few years ago the Commission floated bonds to do street repairs? Well, this is the opposite of that. I think the commission learned its lesson.
Agreed, but in ten years when the ignored maintenance begins to show, then we'll have float more bonds to improve two new fields etc.
ReplyDeleteAGreed. Enough with borrowing money. It has to be paid back at some point. Enough is enough.
ReplyDelete