Where are they getting the money?

The city manager was quoted as saying that if the Downtown Development Corporation (city council in sheep’s clothing) did not approve the increase to the interest rates they are willing to pay for the ball park bonds that construction would have to stop.

That brings up a question.

How are they paying for the construction that is going on now if the bonds have not been sold?

Our election allowed them to use the funds generated from the 2% added to the hotel occupancy tax as well as any revenue generated by the operation of the stadium.

Are they paying for the work being done now, or are the contractors holding their bills?

If city money is being used, where is it coming from?

Is this legal?

Eternal vigilance is the cost of liberty.

Cato

4 Responses to Where are they getting the money?

  1. mamboman's avatar mamboman says:

    Seems the city manager and company have set a snowball rolling downhill that just keeps growing and growing and now it would be somewhat of an “embarrassment”, one might say, to do something to stop it. These people have no idea what the real embarrassment is…their doublespeak, their rosy and faulty projections, their irresponsibility and hastiness to “improve the quality of life” in this city. There is a perfect word for these who continue to speak up shamelessly and brazenly in defense of what most people would now deem a sham. That term is “descarados,” which literally translates to “without a face.”

    Like

    • Unknown's avatar FedUp says:

      So one might say they are both descardos and desperados.

      Like

    • Debra's avatar Debra says:

      What we see happening is their scam they have denied all this time is falling apart. It has been one lie to another and now they can’t seem to cover it any longer. The move they talk the more we find out the truth. Mayor Leeser mentioned that he hated to vote on the tax increase and interest raised on bonds that haven’t sold from March and didn’t agree with how the previous administration handled the ball park. Well, that doesn’t wash because he still has the same people from Cook’s administration who are responsible for this mess. Wilson, Atty Firth, Chief Financial Officer Candelaria, Niland, Noe and Lily Morgan.

      Like

  2. Debra's avatar Debra says:

    They are using certificate of obligations which basically is borrowing money from banks.

    Like

Leave a reply to FedUp Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.