Wednesday, March 17, 2010

bond props, 1-4

First off, COR webmaster, stop with the unnecessary Flash animation crap, ok? I think there's an important metaphor in there somewhere but I'll leave that as an exercise for the reader.

I think in future bonds we need more granularity. Instead of
Street Improvments
Parts and Rec

Municipal Public Buildings

Neighborhood Vitality


we could have
Street Improvments - Critical
Street Improvments - Optional
Parts and Rec - Critical
Parts and Rec - Optional

Municipal Public Buildings - Critical

Municipal Public Buildings - Optional

Neighborhood Vitality - Critical
Neighborhood Vitality - Optional

This would help prevent critical expenditures from getting bundled with "sure would be nice" issues.

Or, even better: think of how different borrowing would be if we actually got to vote on each item. That would be something like 34 items instead of 4. Would I be willing to take the extra 10 minutes at the poll? Believe it. I don't think it will ever happen because it would KILL pork, and pork is the lifeblood of politics. Starve the beast, people.

Prop 1
, $24.7M
The question here is whether or not to spike this $24.7M prop because of the inclusion of:
Galatyn Overpass Extension $787,500
UTD Roadways $2,836,000


Am I willing to drive on worse roads for a couple of years in order to send a signal that the city shouldn't try to bloat up bond props? Yes, I am.

BTW, I'm not sure I'm entirely comfortable with the city building erosion features for what appear to be two private residences at 1709 Timberway Dr. and 1502 Braeburn Dr. Anyone know the dates of the work sessions or council meetings when those were discussed? I'd like to educate myself on that issue. My immediate reaction is that underwriting poor residential location choices increases moral hazard.

Prop 2, $22.6M
This one is easy. No.

We're likely required to do
City Wide - Park ADA Modifications $262,500
which we can do out of current funds.

As much as I'd like to see trails, I will take my own medicine here. This is not the time to borrow money for that.

Note: Hey COR, I understand your girlfriend Heights Park is hot and more than a little high maintenance. Promise her all the trinkets you want, just don't expect the rest of us to underwrite your adventures. We're trying to buy groceries and make the mortgage over here.


Prop 3, 10.5M
No.

Would I like to increase doggie ventilation? Sure. Do it out of current funds. Or get a corporate partner. Who wouldn't want to go on the record as helping adoptable dogs stay cool?

The 724K RFID project will probably save money in the long term, and if so should be in a reasonable bond prop.

Prop 4, $8.15M
No.

Seriously, this is how you're going to list it? How about a link of some kind.
HOA Requested NV Projects Screening walls, entry features, bridge aesthetics $2,100,000

I have no problems with sidewalk repair but 25% undifferentiated fluff in that prop seals it for me.

Man, I'm getting grouchier as I age.

5 comments:

dc-tm said...

"Grouchier" seems to give you what I consider good and sound judgement. Very good presentation!

Anonymous said...

Do you think the city understands common sense? You really did a great job spelling it out.

Anonymous said...

Voting themselves welfare while the schleps who foot the bill don't even go to the polls! This is what happens when good people do nothing.

Anonymous said...

I like your style bloggermouse! Vote No!

Anonymous said...

I like the city's choice of suggestive words and comments. "Unanimous","Council has approved", and especially "allowing". The unanimous bit says they march in lock step and is suppose to invoke a mental connection with an endorsement, kind of like in a political campaign, don't ya know. And, when the council has approved something, that telegraphs to the citizens that their elected representatives have thoroughly examined it and give their blessing...and so should you! And allow? Since when did representatives and public employees get the authority to "allow" or prohibit citizen action? Phuey!

Projections show that every inept bond-issuing spend-o-crat governmental body is going to be selling bonds in the next few months. What do you suppose that will do to prices of materials and labor? Ya, Einstein, back to the drawing board. Hide and watch how inflation kicks in and the cost of projects soar past the money available to pay for them. That is, the money that is left after all the up front funny business is paid for.