- Subject: School Bond issues
- From: "Paula"
- Date: Thu, February 22, 2007 10:47 am
- To: walterburien@cafr1.com
-
- Mr. Burien:
-
- Your article of "http://cafr1.com/SilenceisGolden.html
- silence is golden" was sent to me, I have always noticed the education
system has been used to generate large amounts of monies, currently there
is a school bond being imposed, the steering committee has been chosen
and they are going full force to get the bond passed, is there any information
you can forward to get to the public involved?
-
- Thank You,
-
- Paula
-
- __________
-
- Paula --
-
- Ask the school district / state for a letter as to who
funded their last several bond issues. (Get the investor information)
-
- Then get a letter from the treasurer that the school
district and or the state do NOT use their own investments funds to fund
their own debt. Local governments through shell investment firms that they
may start themselves or contract out with will use their own investment
funds to fund their own debt and thus move money out of sight of the public
to lock in a long-term investments for themselves and a debt under their
"Budgetary" expenses for the public to repay.
-
- No reply, or an illusive reply not answering that specific
question is in any light an admission of their participation.
-
- Put that can of worms out for the public to digest of
their local governments over the last 20 to 30 years have transitioned
into funding their own debt (bond issues) and see what happens. (The best
result would be for much of the standing debt held is vacated against the
standing investments held by the same local government entity) The only
justification I got from the local government financial managers was that:
"Look at what a good job we are doing investing the public's funds,
we got them a .25% (quarter percent) lower then they could have got from
the private sector."
-
- This practice of self-debt funding by local governments
now exceeds several trillion dollars in composite totals. The cost of interest
for that debt is shown on the "Budget" report and the returns
from the investment that funds the debt is shown in the note sections of
the local government's corresponding CAFR "Comprehensive Annual Financial
Report".
-
- NOTE: It is some times better to go to the State run
Enterprise Authority handling the financial investment and do a reverse
look at what local governments are participating and for how much.
-
-
- Walter J. Burien, Jr.
- P. O. Box 2112
- Saint Johns, AZ 85936
-
- Tel: 928-445-3532
- http://CAFR.us
-
-
- Pension funds pay a salary at retirement. Any local government
can be restructured to meet their annual budget needs "Without"
Taxes in the same fashion. TRF (Tax Retirement Funds) now meeting every
City, County, State's annual budgetary needs! They have already proven
that it will work! CAFR1 says: Make it law and make it so!
-
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