Thursday, February 15, 2018

Poop Bond

"Take a look at the payment schedule for our 2017 bond issued for the "poop" bag behind the community center. Maybe, look at the title where it refers to the 22M bond yet the bond is 26M which includes a 4M premium. Is that a commission? Now take a look at the first 5 years of payments. Interest only. All payments are to be paid from revenue from your sewer fees. Now take a look at the annual payments for the balance of the term from 2022 to term. Looks like the payments skyrocket. I would say get ready for some massive rate increases for your sewer fees. Just a rough estimate, some people (maybe all) could see their sewer fees triple or more from whatever is set for this year. Now how are people on fixed incomes going to pay for that?!"

From cities CAFR report

Submitted by Jim Wagner


The Watcher said...

The cities own ATM.

Anonymous said...

this would be more useful if actual payment numbers were spelled out. We faced with $10 or a million? Make it easier on readers to digest if the summary were clearer...

Robin, Boy Wonder said...

Holy excrement, Batman, have you seen the bond payments that start in 5 years. We are up sh-- creek without a wallet. This council and the next will be long gone before we are forced to pay the piper.

Mr Wizard said...

Mr. Anon, I think if you take your sewer bill that you will get after they set the budget, then do some simple math with percentages and apply that to your bill you might drop a brick.

Truth 2 Power said...

Is everyone sitting down? Here are the past and proposed sewer charges (amounts are incurred for each 100 cubic feet of metered water use)

1990-91 $ 2.28
1991-92 $ 2.45
1992-93 $ 2.70
1993-94 $ 2.87
1994-95 $ 3.07
1995-96 $ 3.38
1996-97 $ 3.52
1997-98 $ 3.89
1998-99 $ 3.96
1999-00 $ 4.38
2000-01 $ 4.27
2001-02 $ 4.67
2002-03 $ 4.70
2003-04 $ 5.39
2004-05 $ 6.48
2005-06 $ 6.94
2006-07 $ 7.33
2007-08 $ 8.01
2008-09 $ 9.51
2009-10 $ 9.76
2010-11 $10.28
2011-12 $10.63
2012-13 $11.82
2013-14 $11.82
2014-15 $12.15
2015-16 $12.51
2016-17 $13.04
2017-18 $14.01
2018-19 $15.22
2019-20 $16.43
2020-21 $17.58
2021-22 $18.80

Truth 2 Power said...

For those of you keeping track at home, that's an 825% increase in sewer fees from 1990 to 2021.

The Local Libertarian said...

You can't not afford to pay your sewage bill.
825% increase over a 30 yr time period far exceeds national inflation.
This is as good as investing in DJIA.

DJIA at the end of 1990: 2633.66
DJIA at the end of 2017: 24719.22

An average gain of 938%

We've been had by the Poop Mafia!

Anonymous said...

If you can not afford your sewer tax bill. Poop in a bucket and dump it in front of City Hall.

poop over poop said...

This is really shitty!

Anonymous said...

In light of this malodorous revelation, the meaning of P-town is raised to a whole another level.