The Town of Oro Valley must walk that fine line of NOT endorsing the Naranja Park Bond while at the same time, making every attempt to "sell" us on voting "yes."
Don't get snookered. VOTE "NO"
Here are more reasons why. The Voters Pamphlet was received.
1) On page 6 which addresses the "Estimated Cost To Taxpayers," the annual figure of $.038/$100 assessed valuation is used to calculate the estimated cost to a property owner.
However, if we go to the table on page 7, you'll note it won't be until the year 2020/2021 that this figure is applicable. Initially, the tax is not $.038, but in fact $.052---almost 40% higher!
2) On page 5, "Plan Of Finance," it is noted that the interest rate may be as high as 12%.
However, very conveniently, the interest rate is calculated on page 7 at a rate of 5%.
Why was 5% used? Why not 6% or 7% or more? Was it to make this bond more palatable for the voters?
Even at 5%, it will cost us taxpayers almost $86 million to finance this "Sports Park," with its 42 courts & fields.
Wouldn't it be better to allow this present Town Council that has a majority of fiscally responsible members the opportunity to review this Boondoggle Park?
VOTE "NO" on this excessive, unnecessary expenditure that was forced down our throats by a prior inept council.
