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Archive for April 26, 2008
Opinion: Water System Debt, Property Values, Taxes
April 26, 2008 by Earnest Casstevens.
If the three incumbents running for election win, they intend for the City to submit the certificates of obligation and associated construction plan to voter approval as proposed rather than to revamp their proposal even to recognize recently acknowledged changes to the project (elimination of the line to nowhere, for example). Proponents of their plan have argued erroneously that increased property valuations, which they predict in spite of seeming contradictory trends, will somehow reduce the burden of the debt service which issuance of these certificates necessarily imposes. Their argument is most misleading.
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