"Without the windfall, taxpayers likely would be footing that bill, or more likely, nothing would happen and our infrastructure would continue to crumble."
Where do you think this money comes from? It comes from the ratepayers. The water and sewer ratepayers, most of whom are also taxpayers, have been burdened with repaying $425 million dollars that should otherwise be used to pay for existing financial burdens of $3.5 billion for the CSO and Septic elimination programs (worthwhile projects) and the money stolen from ratepayers during the variable rate bond fiasco. Savings, if any materialize, should accrue to the ratepayers in reduced rates or fund needed maintenance (We are building $3.5 billion of new infrastructure and it will need to be maintained).
This is not free money that just fell from the sky. Citizens did not just pull it out of their back pocket. We, the ratepayers / taxpayers, are not off the hook; we have to pay it back, not them.
"But the most compelling evidence is the commitment Citizens is making to continue investing in the utilities. In addition to handing over cash and taking on city debt, Citizens must make costly sewer upgrades, and CEO Carey Lykins has said the company also will complete a septic tank replacement program that’s under way."
Again, Citizen's is not assuming any debt or paying for any costly upgrades; it is the debt of the ratepayers and it is the ratepayers who are paying for the costly upgrades. Guess what, before the transfer and sale, the debt was the responsibility of the ratepayers and after the transfer (sale), the debt will remain the responsibility of the ratepayers!
In summary, it is a tax increase; it will just be hidden within our future water and sewer bills. And if you don't know that, you are stupid. And if you are not stupid, then you are lying. And in either case, you are just repeating the City's propaganda, rendering this newspaper to the same worthless status as the local weekly rag.
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