Monday, March 5, 2012
Hey what's $74.7 million to the serfs
I haven't posted in a little while 'cause last week was my birthday.
So Leighton admitted we are $74.7 MILLION in debt.
How did this happen? Well with $20 million cost OVERRUNS on the intermodel ALONE. How could it not.
But don't worry. Mayor Tom Leighton said residents shouldn’t be concerned and he learned this week the city has maintained its “A” credit rating.
But wait, that rating is 'below average'.
Le Quach, an associate director at S&P, said an average or mid-level S&P rating would be A+. Higher ratings are “AA” and “AAA,” she said. Quach helped prepare a recent S&P report on the city’s finances.
God Leighton could give Pinoccio lessens in telling lies.
Balagyozyan said between 2004 and now, the Leighton administration has increased the property tax rate one year by 37 percent and again by 27.2 percent, increasing the tax rate from 53.63 mills in 2004 to 93.6 mills.
I still can't believe the dollar amount of the cost overruns on the intermodel alone. So we are paying more and more taxes for Leightons 'glory projects' while he treats our safety like a baby treats a diaper.
Dan Emplit WBFD
AKA Don Quixote