Mt. Vernon Register-News

Opinion

January 28, 2014

A helicopter view

(Continued)

I did not get into the “premium” bond issue because I am a little fearful that even though presented as legal, most of us would probably view it as financial chicanery because we do not understand paying 5% or 6% to “Premium” bond holders rather than 3% or so to “Par” bond holders for the years stated. There just has to be more interest to be paid over the life of the bonds. We just understand that we voted to approve $19.8 million in bonds for a new school or at least that was what was publicized that would cost around $62 million. Any additional cost that burdens property owners is not going to be considered chump change to property owners. Most of them are still mad about the first tax bill exceeding the promised $100 bucks per $100,000 valuation. I am sure we remember that result. No sense pouring gasoline on the fire. We need to resolve it and move on for the sake of the students, faculty and citizens. Let me close by quoting a respected member of our community who addressed the board at this meeting. He stated to one board member that he had read in the local paper that she was concerned that the credibility of the board was being questioned. He explained in a brief statement that will stick with me forever. He said not only is the credibility of the board being questioned, but the credibility of the community is being questioned as well. He stated that our credibility in the community is being questioned as to whether we are able to elect and hire competent people that will carry out the people’s business with diligence and integrity. He pointed out to me that we now have a lot of folks on the board that were not elected, but appointed by the folks originally proposing the project. What a profound statement!

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