Tuesday, May 7, 2013

Questions Arise On $8 Million In Bonds

Bond ordinances totaling $8 million caused worries Monday about the city's debt burden and brought calls for more clarity on what they are for.

"Why now?" Councilwoman Rebecca Williams asked at the City Council's agenda-fixing session.

Part of the answer was that several years had passed with no capital improvements, but Williams said she saw no need for bunching up all the projects, and wanted them broken out and explained.

Capital improvement plans are long range proposals to pay for items expected to last for many years, such as roads, vehicles, fire trucks and construction or renovation of buildings. Proposals for capital expenditures are reviewed by the Planning Board, which then recommends plans to the governing body. Capital projects may be funded through grants or by bond issues, which spread debt over several years.

Councilman Cory Storch also questioned the bond ordinances Monday. He said he had asked why roads were not part of the $3 million bond ordinance that was passed on first reading last month and the administration had replied that there were enough roads "to keep us busy for another year."

"Now we're talking about $8 million," he said.

Storch said he had served on the Planning Board for 10 years and knew that some projects on a capital improvement plan are a "wish list."

"We have to take a closer look," he said, also noting "this is an election year" and he did not want to put $5 million of debt (on residents).

"It is not a wish list!" Councilwoman Vera Greaves insisted. "You have given time for other streets to be done and now it's time for that street, too."

She was referring to Third Street, which Public Works Director Eric Jackson said would cost $2 million to complete.

"This is a rush job," Storch said of the bond ordinances. "We should try to find some grant money."

Finance Director Al Restaino said the city was at one-third of its maximum debt and Public Works Director Eric Jackson said the bonding would bring the city current with capital projects through 2013.

Jackson, who became director less than two years ago, said capital improvements had been delayed for "many years," but said, "I can't tell you why." One of his first initiatives was an orientation program to instruct division heads on the capital improvement process and meeting its deadlines.

Deferrals of capital budget plans cropped up in 2008 and again in 2010.

The two bond ordinances, with lists of projects to be funded, are available to the public in the May 6 council packet on file in the city clerk's office and at the Plainfield Public Library's reference desk. The $3 million bond ordinance is up for final passage and the $5 million ordinance is up for passage on first reading at the May 13 regular meeting, 8 p.m. in Municipal Court.

--Bernice

7 comments:

  1. I give the council credit for working with Greaves. She is a tough one. She kept talking about the streets, and did not seem to understand that there were other items on the list besides her street that she wants paved.

    How can someone so inept be voted in? Says a lot for the people she represents.

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  2. Hey talking about money Why are we paying a Sergeant to hand out the bathroom key at City Hall. Don't they make like over One Hundred Thousand Dollars a Year. Why not put a police officer there instead.

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  3. Big money is made by the Bond Counsel [lawyers etc.] when they "Float" the bond. The City does NOT get all the $8 million to use although the tax payers have to pay that amount back ... plus interest

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  4. Thanks for recording Greaves' statement for psoterity. it is a classic example of a self-serving politician using public office for personal benefit. So she lives on East 3rd? I live on a side street and use East 3rd every day. It is not in need of repaving, expecially to please the vanity of a councilperson.

    Several years ago, the city made a list of street repair projects and ranked them in order of priority. Is the city following that list or just taking orders from politicians with feelings of entitlement?

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    2. She lives on Willever and represents the First and Fourth Wards. She didn't say it was her street.

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  5. Vera is one of the most inept people I've ever met. Sue changes her vote regulatly and has her nose up Sharon's butt. It makes you wonder if the voters in her ward ever pay attention.

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