EASTERN HIGH SCHOOL
Apr. 24, 2007
AS YOU KNOW BY NOW, THE SCHOOL BOARD IS ASKING THE COUNTY COMMISSIONERS TO BORROW 53 MILLION DOLLARS TO REBUILD EASTERN HIGH SCHOOL WITHOUT ASKING YOUR PERMISSION. WHAT DO YOU THINK OF THAT?
I HAVE BEEN AGAINST CERTIFICATES OF PARTICIPATION (COPS) SIMPLY BASED ON THE FACT THAT THE LAW SAYS THAT WE AS COUNTY COMMISSIONERS DO NOT HAVE TO ASK THE CITIZENS FOR PERMISSION TO GO INTO DEBT IF WE DECIDED TO BORROW THE MONEY THROUGH "COPS".
HOWEVER, IF WE WANTED TO BORROW MONEY BY ISSUING BONDS, THEN WE HAVE TO ASK THE CITIZENS TO VOTE ON THE ISSUE AND IF THEY SAY NO, THEN WE CAN'T BORROW THE MONEY.
OH, BY THE WAY, HOWEVER WE GET THE MONEY, EITHER THROUGH COPS OR THROUGH A BOND, THE TAX PAYERS WILL STILL HAVE TO PAY THE BILL WHEN IT COMES DUE.
ALSO, COPS ARE USUALLY FINANCED AT A HIGHER INTEREST RATES, THEREBY COSTING THE TAX PAYERS THAT MUCH MORE MONEY. THAT IS ANOTHER REASON THAT I DON'T LIKE THIS PROGRAM.
MY POSITION IS THAT IF THE SCHOOL BOARD SEES THE EASTERN HIGH SCHOOL PROJECT AS BEING AN EMERGENCY PRIORITY, THEY CAN REVISE THEIR CURRENT BOND PROJECTS AND TAKE OUT 53 MILLION DOLLARS TO REBUILD EASTERN HIGH SCHOOL. THE PROJECTS THAT WILL BE DELAYED CAN BE INCLUDED IN THE BOND PROJECT THAT THE CITIZENS WILL BE VOTING ON IN NOVEMBER OF THIS YEAR. THIS ITEM CAN BE SEPARATE FROM THE LARGER BOND REQUEST OF 450 MILLION AND CAN BE A STAND ALONG BOND TO REIMBURSE THE BOND FUNDS FOR THE REBUILDING OF EASTERN HIGH SCHOOL. THIS WAY THE VOTERS WILL HAVE A CHANCE TO SAY YES OR NO ON ADDITIONAL BOND FUNDS THAT WAS BROUGHT INTO PLAY BECAUSE OF THE FIRE.
AM I ON THE RIGHT TRACK OR DO YOU HAVE A BETTER IDEA THAT WE AS COMMISSIONERS CAN CONSIDER? THE COMMISSIONERS WILL BE VOTING ON THIS FUNDING AT OUR NEXT MEETING ON THURSDAY MAY 3. LET ME HEAR FROM YOU.
I HAVE BEEN AGAINST CERTIFICATES OF PARTICIPATION (COPS) SIMPLY BASED ON THE FACT THAT THE LAW SAYS THAT WE AS COUNTY COMMISSIONERS DO NOT HAVE TO ASK THE CITIZENS FOR PERMISSION TO GO INTO DEBT IF WE DECIDED TO BORROW THE MONEY THROUGH "COPS".
HOWEVER, IF WE WANTED TO BORROW MONEY BY ISSUING BONDS, THEN WE HAVE TO ASK THE CITIZENS TO VOTE ON THE ISSUE AND IF THEY SAY NO, THEN WE CAN'T BORROW THE MONEY.
OH, BY THE WAY, HOWEVER WE GET THE MONEY, EITHER THROUGH COPS OR THROUGH A BOND, THE TAX PAYERS WILL STILL HAVE TO PAY THE BILL WHEN IT COMES DUE.
ALSO, COPS ARE USUALLY FINANCED AT A HIGHER INTEREST RATES, THEREBY COSTING THE TAX PAYERS THAT MUCH MORE MONEY. THAT IS ANOTHER REASON THAT I DON'T LIKE THIS PROGRAM.
MY POSITION IS THAT IF THE SCHOOL BOARD SEES THE EASTERN HIGH SCHOOL PROJECT AS BEING AN EMERGENCY PRIORITY, THEY CAN REVISE THEIR CURRENT BOND PROJECTS AND TAKE OUT 53 MILLION DOLLARS TO REBUILD EASTERN HIGH SCHOOL. THE PROJECTS THAT WILL BE DELAYED CAN BE INCLUDED IN THE BOND PROJECT THAT THE CITIZENS WILL BE VOTING ON IN NOVEMBER OF THIS YEAR. THIS ITEM CAN BE SEPARATE FROM THE LARGER BOND REQUEST OF 450 MILLION AND CAN BE A STAND ALONG BOND TO REIMBURSE THE BOND FUNDS FOR THE REBUILDING OF EASTERN HIGH SCHOOL. THIS WAY THE VOTERS WILL HAVE A CHANCE TO SAY YES OR NO ON ADDITIONAL BOND FUNDS THAT WAS BROUGHT INTO PLAY BECAUSE OF THE FIRE.
AM I ON THE RIGHT TRACK OR DO YOU HAVE A BETTER IDEA THAT WE AS COMMISSIONERS CAN CONSIDER? THE COMMISSIONERS WILL BE VOTING ON THIS FUNDING AT OUR NEXT MEETING ON THURSDAY MAY 3. LET ME HEAR FROM YOU.
Comments:
Good luck with your blog, Commish.
On the issue of Eastern: COPS should be illegal in my opinion. You have the correct idea. Take the money they need now to build Eastern and then ask voters to replace the money in a bond issue this fall. But, make it a separate bond issue which I feel people will approve. I don't believe the voters are in the mood to give them another $500 million to squander. Sincerely, Brenda Bowers
We may disagree politically, but I respect any public official that communicates with the public directly via a blog or website.
E.C. Huey
www.hueyforguilfordschoolboard.org
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...Just a thought, but shouldn’t replacing a school that was completely destroyed by fire rise to everyone’s level of a bonafide "emergency priority"?
While I understand the problems that have come up in dealing with the state and insurance companies on how much will ultimately get paid and by whom to rebuild Eastern, meanwhile… THOSE KIDS HAVE NO SCHOOL. (caps mine)
Drop the politics, issue the bond, and build the damn school.
Cheerily
IJK
thanks
meblogin
I COMPLETELY AGREE WITH YOU ABOUT COPS> THE NEXT THING THEY WILL WANT IS TAXING AUTHORITY!!!!
THEY ARE OUT OF THEIR MINDS!
Here in lies the politics:
The present plan calls for expanding Eastern High School by over 50% of it's original size which would require additional funding beyond the cost to be paid by the insurance company without voter approval, that is what I'm questioning.
This has gone from a rebuilding project to an expansion effort. All of the other school expansions have been completed by the financing of bonds that were approved by the voters. Why should the expansion of Eastern be financed differently in a manner that bypasses the voters and requires repayment at a higher interest rate.?
You may wish to consider putting this on the front page of your site because not everyone drills down thru the comments.
While i may not always agree with you, i am in total agreement about the COP situation. We the "voters" should not be bypassed about the jail or any other issue. You can bet that those that vote for this will not receive my vote next year.
Please dont tell me they cant do that.