Monday, February 8, 2010

Pacifica Debt gobble-di-goop

Take a look at this gobble-di-goop. Make sense out of it, please!

Pacifica debt gobble-di-goop

I asked for all bond debt, COPs, and pension obligations.
Did I get them? I don't know. Maybe.
What have the "Fantastic Four" entrenched, long term council been up to.
Vreeland, Lancelle, and Digre are up for re-election. I challenge any of them to explain what our long term debt is and why. If they can't coherently explain to us how we came to be 150 million in debt then it's time for them to leave and they should be embarrassed to even run for a council seat again.

Jim wagner


Jeffrey W Simons said...

this is "good" debt according to John Curtis and Fred Howard. The debt listed does not include the Unfunded Pension Obligations, which was approximately $17 million as of 2 years ago (and I don't think those bonds sold very well)

Kathy Meeh said...

What a good inquiry this is Jim. Regarding the $150 million debt, good luck! Some of this debt the city doesn't count.

The WWTP debt is paid by property owners so who cares. Sewer lateral cost, problem solved 6 years ago, property owners pay.

Pending infrastructure collapse, well we're waiting for the State to step-in. The coast line integrity, we've got the State to take-over some of the beaches, San Francisco and San Mateo County can pay for most of the Golf Course berm.

Roads? The new plan might be for Pacifica property owners to pay for their own roads, that happened 12/09 for 50 year old roads which were once county, why all roads, that's only fair. Highway 1 improvement money went to trails, we've got trails and volunteers to maintain what wasn't transferred out of city jurisdiction to the GGNRA, not our land.

That alleged $150 million debt has solutions, with these reductions maybe what's owed by the city is only net $75,000, "piece of cake." Looking forward to those budget meetings, application of the $7 million surplus, and counting all that money accumulated in the Frontierland Park fund. And, don't forget about the $1 million paid to the city from Recology, that's a windfall (property owners will pay for that one in their not-to-be-noticed billing). Its great to live in Pacifica, "look at all we have". Big thanks to this city council for their creative thinking, not.

Jeff, that $17 million turns into about $30 million in the projected life of the funding, then others will retire in the meantime. There must be some way to pass this cost directly to property owners too. Maybe this is a solution platform city councilmembers can run-on in the 2010 election.

Anonymous said...

this website/blog is absolutely ridiculous -- a forum for the pin-headed psusilaminous among us.

Kathy Meeh said...

Yep, as Lois said Meirriam-Webster can find that "psusilaminous" word. But, if its intended to mean coward, you've really got to ask yourself why you signed-in as "anonymous".

Also, why you offend without an explanation, and without reasoning behind your "glittering generality". And, if you cannot engage in a reasonable dialog, why not? Again, you might ask yourself what is "absolutely ridiculous"? Isn't it you "Anonymous"? Most people contributing to measured comments on this blog are fact-driven, and rationale to do otherwise is challenged.

Anonymous said...


Anonymous said...

wait isnt that the fool(simons) who got kicked out of pacifica and the baord of realtors?

fucking looser

Steve Sinai said...

We seem to be getting under someone's skin.