Read about Chicago's pending Doom all brought on by the unions and unfunded liabilities to the tune of $20 billion as well as general obligation bonds worth $8.3 billion. Moody's has now cut their credit rating to right above Junk.
Yes, Vice Mayor, other cities do issue general obligation bonds for roads and infrastructure. Many cities have unfunded liabilities, as do we, that are astronomical and unsustainable and take huge chunks from operational budgets. In our city, little money is left-over to fix potholes.
And yes, Mayor, you all need to work hard for sustainable growth. We realize our potential but we also recognize the horrendous debt on the books. You deny we even have debt because it is not in our operational account...but it's there...unfunded liabilities of over $80 million. You have a Revenue bond still outstanding of over $54 million with a Utility upgrade NEVER COMPLETED.
I doubt seriously that even Chicago ever worried about spending millions on unpaved roads. How come you never talk about our unfunded liabilities and massive debt? Instead, it seems that all of you on the dais (Maxwell, Triolo, Amoroso and Szerdi) want to go the same route as 47 other municipalities across the country--bankruptcy. Bankruptcy happens when you spend more than you have or can ever hope to make. Ask a third grader. You blame every past commission in Lake Worth for our state of affairs when you have contributed to the problem by approving more affordable housing than any commission in past history.
Good luck in Tallahassee. Can we get a full-report upon your return that will coincide with all these "grown-up decisions" like the $63.5 money grab that you're still itching to get a hold of, the possible out-sourcing of our beach park with a company at the Negotiation Meeting on November 4 who admits they have been working on everything for the past six months and wants to build a 20,000 s.f. convention center--or why unpaved roads are such a priority (calling it "criminal") in our city that you even have to include it in the mix.
You are the only ones singing Gypsy Rose Lee's song--Everything's coming up Roses never mentioning that you can't live within the revenues generated by taxpayers who live in a poor city where few roses are seen.
1 comment:
right on lynn-maxwell outrage shows who he really is---we need educated people -but no one wants to work or say the word lake worth its demeaning and the whole city looks like a slum -people walking with laundry baskets on their head on dixie-a man stands everyday on dixie taking to air-cultural plaza is really a refugee camp-homeless living in park-prostitutes still walking on dixie-and sex still in parks bathroom-same guy looking for sex there everyday on shooter
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