About that Big Bloated Bond package: $815 million is the largest bond package ever in Pima County by 50 percent. Debt Service (interest) will be at least $350 million more at the lowest interest rates and could make the bonds' actual costs $1.5 billion, according to dissenting members of the Bond Advisory Committee.
Maintenance and Operation costs in the hundreds of millions of dollars when projects are completed will be additional and the money has to come from somewhere.
Many areas, like Picture Rocks, already pay additional bond taxes, such as the $.67/$100 for a new firehouse on top of $3.25/$100 to maintain the department.
While there are certainly worthwhile projects and goals among the proposed projects, is it good public policy to build a new Y for the Fortune 500 companies in the UA Tech Park, or a new highway for Raytheon, which boasts annual profits in the billions? Are bonds really the way to fund road repairs? More repairs will be needed before the bonds are paid off.
And with wages low, schools underfunded and the economy uncertain, is this really the time to raise property taxes even more?
—Albert Lannon
Avra Valley Coalition
