Front Page
OUR WORD IS OUR BOND
The City of Lake Geneva just ‘bonded’ itself to seven million dollars. The city council, under Mayor Mayor’s distorted and twisted leadership, saddled the city taxpayers with seven million and the whole thing was done using the spin tactics of modern politics. This magical bond was supposedly something to be leaped upon because the seven million was, and will now, come from the State of Wisconsin, and it’s no gift that had to be acquired while it was still available. It was not presented to the council as what it is. The seven million is nothing more or less a ‘payday’ loan to be paid back to the state with interest. In fact, before the voting on Monday night, no interest at all was discussed.
This greasy underhanded loan was spearheaded by the city’s Mayor Mayor and with the assistance of her equally strange comptroller. It wasn’t approved by the finance committee and the amount that the city is now indebted wasn’t even discussed for a referendum so the public could decide about whether it wanted this additional debt (remember the millions the city is currently paying off on the purchase of the Hillmoor land. And why was this amount needed, this new seven million with mystery interest payments? Why, when the city’s reserve is just about seven million?
The excuse is that the reserve must be maintained in case of some future emergency.
Really? Regular people and most financial people giving such advice would advise spending the money and then borrowing in the event of an emergency, not the other way around. Interest-bearing loans do not exist to profit the borrower, they are intended to profit the person or entity loaning the money. The city attorney isn’t calling for a referendum. Even though that’s what the city ordinances call for, in any amount to be borrowed totaling over a million and a half dollars, the city attorney says nothing.
The spending of the seven million? It was borrowed to pay for future improvement projects that the city may decide on, meanwhile, the only does not go into a trust for such projects. Oh no, it goes into the city’s general fund, and the city administrator is the ultimate rule-maker when it comes to spending that money. Then there’s the timing. This money has to get into the bank and then be disbursed before the next election in April because this current crop of sharecroppers is about to be voted out of office. The ‘cabal’ of the current leadership, a cabal everyone thought was disappearing with the departure of the mayor before Mayor Mayor was seen to be the last of the more authoritarian clan that ruled the reality of life in and around Lake Geneva, financially, politically, and even socially.
It took only a year for Mayor Mayor to come to understand that God Himself must have elected her, not just to rule but to assure that those in need of a decent community, getting fairness and wanting some sort of ambiance to continue on into the city’s future are nothing but poor lemmings who must, indeed, lack the same grace and power she was given by the Creator. There is a long history of the ‘Divine Right of Kings’ but there’s no divine right of mayors, at least not yet, particularly mayors who have the two words, ‘Mayor’ in their assigned title.
