In watching todays Council meeting I’m learning that injection well #1 and #2 will cost a total of Over The Rainbow costs! Yet we continue to spend money on non-essentials. Whoa is me to understand their budget prowess.

As the City has known for a long time, there will be a budget crunch in 2 to 3 years. This is the direct result of years of lousy priorities and overspending. So, where is the funding for non-sewer capital projects such as streets, drainage, and sidewalks to come from? General obligation bonds, improvement districts, additional excise tax bond debt, and an increase in the City sales tax were all possibilities mentioned by Karen Daines during the continuation meeting on Jan 15.

Here’s some important information about GO-Bonds. They are UNLIMITED PROPERTY TAX BONDS (both rate and amount). An unlimited property tax would be levied since the City has no other source of funds available to pay the debt service on the bonds. And the rate goes up to support whatever amount is needed. For example, if property values plummet, the tax rate increases. The Arizona Constitution mandates any debt issuance be approved by the voters. $20.19 MILLION was the amount the City’s Bond Council brought up during the July 30, 2013 Council Meeting Ms. Daines referenced.