Debt Payment History and Freeholder Meeting Tonight

The real cancer in Union County is not the accelerating taxes but the unbridled and non-voter-approved debt that has been piling up so that even the massive tax increases we have gotten fall within that sieve of a budget cap.  Even with recent historically low borrowing costs debt payments since 2004 have skyrocketed:

UC-Debt Payments

Though there is no new bond ordinance on tonight’s freeholder meeting agenda to pay for the fiasco that is the building of a courthouse through the UCIA they will huddle over it:

fh-exec

 

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2 responses to this post.

  1. Posted by bpaterson on January 26, 2017 at 11:35 am

    unsure about the open space trust fund bonding, if its listed therein above, but that debt service is another $4.2 million, inverting by rough interest and longevity puts the OSTF total bonds out there at around $50 million.

    Regarding last years referendum, I uncovered the probable real reason for their putting it on the ballot and brought it up to them back June 2016 but they would not acknowledge it at all. They said it is a great year for the people to turn out to vote on it, I said that they floated bond payments out to year 2032 and it was illegal since the OSTF life expired on year 2020 and debt went beyond the trust’s life. As a guess, the state found this trust/bond error out in late 2015 probably mandated them to correct that immediately by 2016. The county did not want the public to find out about their financial screw up so they lied.

    Reply

  2. Posted by readslikeamofiabook on January 26, 2017 at 8:18 pm

    They have to be quiet to protect their pay-to-play INCOMPETENT LAW FIRM, DECOTIIS

    Reply

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