Tuesday, April 26, 2016

News from Tony Doris at the Post that might interest some in a city south of the C-51 Canal

Can you imagine? A city in Palm Beach County along the Atlantic Ocean wants to go to the bond market to fix problems and address many of their concerns. If you live in Lake Worth you might be interested in scrolling up and down the right-hand column and looking for this image:
Picture of a pothole on 'J' Street in Lake Worth near Publix taken in 2014. How many times has this been patched since then?
To read about what the West Palm Beach commission did last night (Monday, 4/25) use this link. Here are two very short excerpts:

     "Some $40 million worth came closer to reality Monday, with the city commission’s approval of a bond offering that will help pay for roads, fire and police facility repairs, and police cars, among many other projects."

[and. . .]

     “The current interest rate environment for debt provides an opportunity to set the cost of funds at a desirable level,” Parks [finance director Mark Parks] told the commission.

Anyone care to chime in? This might be an interesting topic at the upcoming Sea Level Rise Summit in Ft. Lauderdale: Why future events or possibilities doesn't preclude elected and city officials from providing for the safety and well-being of their citizens in the present. You see, that's called leadership.

1 comment:

Anonymous said...

Only a small difference from the LW2020 proposal: Money to pay these special obligation bonds, which replace a 2006 bond series, does not come from ad valorem property taxes but from public service taxes, communications services taxes, intergovernmental revenues, state revenue sharing revenues and several other revenue sources, finance director Mark Parks said.

Key section: "does NOT come from ad valorem property taxes." Why don't we pursue these types of bonds rather than a debt obligation on certain people's tax bills.