This is the last of my introductory posts about the proposed city charter amendments.
Once again from the city’s web site:
SHALL SECTIONS 7.4, 7.7 AND 7.17 OF THE CITY CHARTER BE AMENDED AND SECTION 7.23, LEASE AND LEASE PURCHASE, BE CREATED, RELATING TO THE FINANCIAL OPERATIONS OF THE CITY: TO REQUIRE THE CITY TO MAINTAIN A CASH RESERVE IN A MINIMUM AMOUNT OF 5% OF THE OPERATING EXPENSE BUDGET; TO PROVIDE THAT CITY INVESTMENTS BE GOVERNED BY AN ANNUAL INVESTMENT POLICY; TO ESTABLISH THAT GENERAL OBLIGATIONS BONDS MAY BE APPROVED BY THE VOTERS FOR ANY LAWFUL PURPOSE; AND TO ALLOW FOR THE USE OF LEASE-PURCHASE AND SIMILAR AGREEMENTS FOR THE ACQUISITION OF PROPERTY?
- Permit voter-approved general obligations bonds for any lawful purpose
- Permit the use of lease-purchase agreements for the acquisition of property
Evidently the current charter does not allow the voters to approve general obligation bonds for some purposes. I would like to know what purposes they want to add before I give my approval as a voter.
My problem with allowing lease-purchase agreements for the acquisition of property is that it would allow city council to make large acquisitions that would not add enough to each year’s budget to make the budget subject to voter recall.
Think about this and vote in May.
We deserve better
Brutus
elpasospeak 