I won't bore you with all the details, but as a property owner myself, I want you to know that this bond is a “BAD” deal.
I will leave you with four facts that the city has yet to deny publicly and that I am convinced that the city really doesn’t want you to know.
This bond referendum question is “Not project specific” so stated Roswell’s legal Counsel, David Davidson just prior to Roswell Council’s voting to place it on the November ballot. The city website confirms that reality with the statement:
“The City is considering projects related to transportation and infrastructure improvements, public safety and parks, which include but are not limited to”………….
All one has to do is read the question when you are at the polling booth to understand just how vague this bond question really is.
In Section A (page 9) of Sunday's AJC North Fulton Reporter Pat Fox confirms this in the article "Roswell voters weigh $14.7M bond"
Roswell is sitting on $25 million in cash “above” reserves. Yes, excess, totally unallocated monies. This amount can be found in this year's Fiscal Budget on page 37. All the proposed projects can be paid for with existing funds and revenue.
Just because you can get money with little interest doesn't mean you should (that is if you consider $1.6 million little interest). I think it is pretty brazen of the city to ask us to tax ourselves when they have already overtaxed us and are sitting on plenty of money to fund their project list.
Since 2008, the Roswell City Government has spent around $32 million more than they have taken in. Trust me, as Roswell’s budget hawk, everything presented can be confirmed on the city’s own website.
It is an axiom that once politicians get their hands on your money they will manipulate, deceive, and even lie to taxpayers to keep it, even though there is an implied contract between citizens and a governing body with regard to a general obligation bond. When voters agree to tax themselves, they expect that when a bond is retired, as will happen next fiscal year, the tax should go away.
Roswell property owners are paying $6.3 million in property taxes annually (slightly over 25 percent of their entire city tax bill) to service debt. There will no longer be a need to collect all that money beginning next fiscal year when the city becomes debt free. So there is absolutely no logical reason for this bond.
Unfortunately, I've spent way more time than I would like analyzing the city's financials over the past 10 years, challenging city officials about the misuse of taxpayer’s money, and if you can believe it, even correcting the Roswell Finance Director on the actual terms of this bond.
And finally, for those of you who get your water from the City this is only the first shoe to fall. There’s another $16 million bond coming for y’all !
Roswell's Budget Hawk