Consider long-term cost of city's bond package by Mikel Ward

Reprint of Letter To Editor of Lubbock AJ from November 1,2009

Would you add huge amounts to your credit card without checking your balance or finding out how much more you will pay including interest? That's exactly what you are doing if you vote for the projects on the $61 million bond proposal without knowing what we owe.City debt, including interest, is currently more than $1 billion. Every man, woman and child owes about $4,700 each. This is almost four times more per capita than the average of 56 other cities in our area. We are paying back this enormous debt primarily on our water bills, property taxes, and hidden franchise taxes on phone, cable and electric bills. Another $167,845,000 will be borrowed very soon, primarily for more water projects. If we add $61 million more plus interest, you will pay more than 10 percent more every year on city property taxes. Even if you think this won't affect you, businesses must pass increased taxes through to customers. Please consider the above information before you max out your city credit card for nice-to-have projects.

MIKEL WARD
Lubbock,Texas
SPARTAN Chairwoman

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Editor's NOTE

Mikel Ward has admitted most Spartan members are deceased. Mikel Ward is also "runnin' buddy" of Tom Martin/Paul Beane crowd on city council that voted to put bonds on a ballot. The election will cost money,the bonds will probably pass and Ward is trying to ride Martin/Beane train and criticize city debt.

Question:

Is Mikel Ward credible these days??

You Make The Call!!

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"The People Have A Right To Know"
Nostradamus