This is a rumor I'd really like to prove false. In comments to another post today, the question was posed regarding the cost of defeasement. We knew that some $25,000 went to the Hellmann crony financial firm as payment. Here we have an anonymous poster suggesting that the real costs were some two million dollars.
Can we get some real cost numbers on this? I know a certain councilman and school board spouse would complain that this is squandering if this is true.
Blogger Jon said...
Speaking of frugal spending, is there any status information on the bond defeasement that can be shared? Have the bonds been defeased? If so, how much did the defeasement cost, just the $29,000 fee for the defeasement company?
With interest rates dropping, I'm concerned that the investments made to defease the bonds won't cover everything, and that taxpayers will end up holding the bag for the difference for years to come. I hope my concerns are unfounded, especially since this was not mentioned to the public at either at the January 23 board meeting when the board almost voted to defease, or the January 30special meeting when they did.
February 26, 2008 10:22 AM
Anonymous Anonymous said...
I hear that the defeasement cost over $2 million, and that all Board members except his highness had no idea it would cost this amount. Lovely.
February 26, 2008 1:41 PM
Tuesday, February 26, 2008
Subscribe to:
Post Comments (Atom)
2 comments:
I certainly hope that someone asks at public comment. I also hope that Joe or Ed demand that th epublic be given an answer as opposed to allowing Bill to simply ignore the question.
Yes, becuase the QRSE is at hand to make sure we don't have waste in governement spending. If this is really true, and the Worobs, the Hughes, and ALL the others who screamed about the money and how is was spent, don't come out screaming about this and calling for blood, they are worse than I would have believed. It's one thing to be a true believer, how ever far fetched your faith might be. It's another to be a complete hypocrite. If any of the QRSE are reading this, you now have a chance to prove that your not the bunch of asshats you sometimes seem to be. This is your chance to stand up and prove it's not some cult against Sandy Gibson, and that what you claim to stand for is what you're really all about! Why do I feel like their is a massive spin cycle about to begin? I'd give odds that should this travesty be true, the current board will lay all responsibility at the feet of the current board. Don't let them get away with this!!! Speak up, speak out!!
Post a Comment