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	<title>
	Comments on: Let My People Vote!	</title>
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	<description>A different slant on the news.</description>
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		<title>
		By: Rod Beck		</title>
		<link>https://boiseguardian.com/2005/06/23/let-my-people-vote/#comment-40</link>

		<dc:creator><![CDATA[Rod Beck]]></dc:creator>
		<pubDate>Fri, 24 Jun 2005 14:43:38 +0000</pubDate>
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					<description><![CDATA[I’m pleased that someone is finally talking about this issue.

You suggested, “We have $2.5 in tax money sitting in the slush fund when other requests and needs go wanting.”   Look back at the reason for the extra cash in addition to increased property tax valuations.

Former Mayer Brent Coles requested a judicial confirmation for construction of a police station and other buildings, which Judge Cherie Copsey correctly refused to allow.   During the public discussion of that proposal, Coles and the Council told the public that there would be no new taxes required to pay the payments on the new $32 Million dollars of bonds to pay for the buildings.  So, where was the money coming from?

Kent Rock, on instruction from the Mayor and Council had refinanced over $35 million in current bonds that were scheduled to be paid off in 11 years.  The resulting new bond payments were around $3.5 million per year less than they had been paying, but the new bonds would not be paid off for 35+ years instead of 11.  When Judge Copsey refused to allow the scheme to proceed the city now had new debt that will not be paid for 35+ years and the extra cash from the reduced annual bond payments…but no buildings.

It’s like we the taxpayers have been paying for the new police station and library buildings ever since then.  Except they were not constructed.  We don’t have them.  We have been scammed once again.


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			<content:encoded><![CDATA[<p>I’m pleased that someone is finally talking about this issue.</p>
<p>You suggested, “We have $2.5 in tax money sitting in the slush fund when other requests and needs go wanting.”   Look back at the reason for the extra cash in addition to increased property tax valuations.</p>
<p>Former Mayer Brent Coles requested a judicial confirmation for construction of a police station and other buildings, which Judge Cherie Copsey correctly refused to allow.   During the public discussion of that proposal, Coles and the Council told the public that there would be no new taxes required to pay the payments on the new $32 Million dollars of bonds to pay for the buildings.  So, where was the money coming from?</p>
<p>Kent Rock, on instruction from the Mayor and Council had refinanced over $35 million in current bonds that were scheduled to be paid off in 11 years.  The resulting new bond payments were around $3.5 million per year less than they had been paying, but the new bonds would not be paid off for 35+ years instead of 11.  When Judge Copsey refused to allow the scheme to proceed the city now had new debt that will not be paid for 35+ years and the extra cash from the reduced annual bond payments…but no buildings.</p>
<p>It’s like we the taxpayers have been paying for the new police station and library buildings ever since then.  Except they were not constructed.  We don’t have them.  We have been scammed once again.</p>
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