Mt. Vernon Register-News

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June 14, 2013

Further tax hikes unlikely from building project

(Continued)

“I don't think we have any right to complain,” Beard said. “It is what they said it would be. There's no slight of hand here.”

The financial picture for paying back the bonds is decidedly better now with lower interest rates.

“As far as the actual bond sale itself, the amount being collected to make the bond payments (is) actually less than what was talked about in the referendum,” said Superintendent Michael Smith. “And it just so happened that we were able to capitalize on the rate that was so low, based on the economy, that in effect it's saving the taxpayers millions of dollars over what was originally talked about.”

Given the complex nature of bonds and the public's concern over tax increases, Beard urged district officials to hold a public forum on this topic.

“We feel it's emphatically important they hold a public meeting,” Beard said. “No one comes to the committee meetings because they feel intimidated. … We want a public forum where (Mr. King) can give the same presentation.”

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