August 3, 2017
All during the 7/31/17 BOC meeting the BOC and financial advisor discussed how to “clear things up” so the public would vote yes on the tremendous new debt they propose.
One of those ways was to give the debt information to the public in “bits and pieces” and let them figure out the true cost. (start at 3:28 to hear how public might be able to solve for the figure)
Will the citizens get the actual proof of the costs of the debt or will the BOC hide all the figures? SPLOST debt will not be paid off during the 6 year SPLOST, it will take at least 18 years and probably 20 years.
Doug Luke seemingly supports informing the public of SPLOST specifics, but wants to limit the public material to “one liners.” The financial adviser says they can limit the explanation of SPLOST debt on referendum to principle only.
Commissioner Pennamon says that if SPLOST is sold to the public wrong it will fail. He says all he wants to tell people is that SPLOST will be used to retire debt. Commissioner Pennamon says the BOC’s Job Is to sell SPLOST while downplaying debt.
Despite Comm. Henry saying people won’t vote for that much debt, Comm. Pennamon still thinks public would vote for a $8.2M bond.
$8.2M debt to be paid back for 20 years would cost over $10M to pay back, and possibly more depending on the interest rate.
Next blog, the cuts made and what SPLOST will fund now—unless it changes again. There was NO vote on the cuts.
Citizens, be informed and stay informed! Only by being informed, can the citizens understand what is being done and talked about, and then press our officials to make good decisions for everyone in Jasper County. That is our goal with the Taxdogs blog.