An explanation on why to vote ‘Yes’ on GO bonds
Dear Mr. Rey
My two cents about the controversy surrounding the General Obligation bond (referendum):
Initially there was a vote of the council to put on the November ballot a referendum question for the voters to decide to go beyond the existing debt cap and to be able to issue General Obligation bonds to finance a number of still to be designed, cost budgeted, and approved resiliency related projects. A number of $100 million was attached to both the bonds and the projects. This confused many because it seemed that we would be voting in November on raising the debt cap, issuing 100 million of debt AND also giving the village council and management a blank check to spend such money. This was the wrong approach and unfortunately both confused and concerned many. Thankfully, at the last hour at least the issue of raising the debt cap was abandoned…