Submitted by Guest 123 (not verified) on Fri, 08/17/2012 - 11:40pm.
This is an interesting story and Olsen Farm of Wilmington, LLLP has made a valid point. Focus on City obligations before further extending debt service on the taxpayers. The parks bond referendum was supposed to be a dedicated, pre-planned, pot of money for a set menu of parks projects based on a seemingly scientific survey of residents paid for by the City and County in order to justify and sell the referendum to the voters. And that $37 million referendum was planned as a joint effort by the city and county with a clear dedication of funds to the pre-planned projects. Also, $200,000 to each of the three beach towns without dedication to pre-planned projects. If the City of Wilmington can't meet their obligation to complete projects per that referendum, it calls into question their ability to meet any future baseball stadium referendum. Similar to someone who can't pay their current bills, but wants to go to the bank to borrow even more money for a more expensive project.
Interesting point. What other city obligations will be delayed?
This is an interesting story and Olsen Farm of Wilmington, LLLP has made a valid point. Focus on City obligations before further extending debt service on the taxpayers. The parks bond referendum was supposed to be a dedicated, pre-planned, pot of money for a set menu of parks projects based on a seemingly scientific survey of residents paid for by the City and County in order to justify and sell the referendum to the voters. And that $37 million referendum was planned as a joint effort by the city and county with a clear dedication of funds to the pre-planned projects. Also, $200,000 to each of the three beach towns without dedication to pre-planned projects. If the City of Wilmington can't meet their obligation to complete projects per that referendum, it calls into question their ability to meet any future baseball stadium referendum. Similar to someone who can't pay their current bills, but wants to go to the bank to borrow even more money for a more expensive project.