This link.
These special earmarked tax/spend things run contrary to the generally best practice, decide what you want to buy and then tax to ensure you have enough to pay for it.
And don't loot the reserves with some pie-in-the-sky phony promise of paying it back.
That's one where I disagree with the mayor and McGlone. Spending down the reserves did make some sense, as I think they were pumped up unreasonably and unnecessarily high during Gamec-Norman days. Because of the prudent investment concerns regarding excess reserve public funds, there is not much likelihood of a sensible return on held funds.
Using reserves to buy the Clown Center lands, vs. bonding for it was a decision I supported and still think best.
However, the decision to buy it at all, and for such an unreasonably high price, was unsound.
Then, I think reserves again went to fund the third water tower, rather than bonding even at current low rates. They bond now for subsidizing Flaherty, because, what, they've exhausted reserves?
It is all a hodge-podge, but from Republicans, expected.
They say as they say. They do as they do. Others do better in office.
