From Racine Exposed:
"On 13 June, 2014 Moody’s
reported that Gateway Technical College was preparing to issue
$7,000,000 in bonds to finance equipment purchases and various building
improvement projects.
"Note that the debt of Gateway, which is paid by
property owners in the District and appears on property tax bills, will
be $55.2M after the bonds are issued. Of course, The Journal Times
failed to report the new borrowing and that the notes would be secured
by the District’s unlimited tax pledge – which means it is to be added
to District Taxpayers Property Tax bills."
Read more: http://racineexposed.wordpress.com/2014/06/22/bryan-albrecht-and-gateways-unelected-board-add-another-7m-in-debt/
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4 comments:
The People of Racine are like Cows - just waiting to be Milked.
How does Robin Vos equate tax relief = tax shifting?
It's time to cut Gateway loose and let it be on it's own, without taxing authority - so Bryan Albrecht can make what he's really worth on the Open Market.
I wonder why he's not applying for private sector employment?
When any politician tells you they are pushing legislation for tax reform... what in fact they are doing, is cutting funding for things they don't want (helping those who can't help themselves, funding education, investing in the future) and shifting taxation to benefit their own agenda. Racine is no different than any other place.
I agree with Tricky Dicky
It's time to cut Gateway loose and let it be on it's own, without taxing authority
Any increase needs to be approved by a vote from the residents of Racine County.
it's time to stop these "free" handouts to them!
Taxation without representation is what once started a war.
The taxpayers say no to a referendum, so Gateway just goes and borrows the money it wants anyway
It's ludicrous that Gateway can do anything they want without any oversight from the taxpayers. In fact, it's un-American.
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