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The Freedom Forum Fort Walton Beach Long Term DebtFrom: Ken Schubert CommentsThe Fort Walton Beach long-term bonded indebtedness stood at 13.7 million dollars at the beginning of last week. Then the city council approved an additional 1.2 million dollar long term loan on Tuesday to cover sewer improvements. This makes a total of 14.9 million dollars of long term debt. In order to finance the improvements to the police and fire stations, and build a new library, the plan is to issue another 5 million dollars in 30 year bonds. We don’t even have the bill for the additions to city hall, or the cost of furnishing the approved new facilities! The Fort Walton Beach city manager and his lock step city council majority seem hell bent on expanding the city’s long term debt, but they shy away from any program that will reduce the residents’ tax load. Like consolidation of police and fire services with other parts of the county to cut the ad valorem tax rate in half. Wow! Are they ever giving the voters reasons to throw out this spend crazy city administration and council! How about 14.9 million dollars worth of long term debt? And how about a 25 million dollar Around the Mound Highway 98 bypass? And how about placing a new library in the most inaccessible place downtown? And a library, police station and fire station improvements that will require an additional 5 million dollars worth of long term debt, more when you add in the cost of furnishings. And continuation of a CRA board that has demonstrated that it is no more than a useless added level of bureaucracy? Any candidate who runs against this abysmal record is a shoo-in. I can’t wait for the municipal elections next March! ______ Last changed: March 04, 2008
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