Tag Archives: loan

What happened to pay-as-you-go? – Letter to the El Segundo Herald by Liz Garnholz

In order to pay for 13 Capital Infrastructure Projects the City of El Segundo wants to obtain an approximately $10,000.000 Lease-Revenue Bond using our City as collateral. This $10,000,000 Lease-Revenue Bond over 20 years will cost approximately $15,800,000 with yearly debt service payments of $775,000. Whatever happened to pay-as-you-go?

So why this type of bond? Simple, Lease- Revenue Bonds circumvent Proposition 13’s requirement that taxpayers vote on bonds. These types of bonds are legal gimmicks. … Continue reading

Posted in Doug Willmore's Great Chevron Shakedown, El Segundo Herald Letters, El Segundo News, El Segundo Tax and Fee Increases, Firefighter and Police Union Compensation and Pensions, Government Employee Compensation and Pensions, Letters to the Editor | Tagged , , , , , , | Comments Off on What happened to pay-as-you-go? – Letter to the El Segundo Herald by Liz Garnholz