Kind of looks that way (Item #5, Ord. 1209)
The entertainment bonds will be paid off in 2013, with $1 million due at the beginning of 2014. Â If the new ordinance passes it would change all that. Like I have said before, Huether is looking to scrounge up money for the new Events Center.
CIP money is tight lately, so instead of using that money directly it makes more sense to Huether to use the money for bond payments. If you have been paying attention lately, you will see Huether has been bragging up and down about our good bond rating, and he sees an opportunity.
So when do the good people of Sioux Falls get to learn about this in plain English?
or is this legal gobledeegook in hard-to-find council document Huether’s idea of transparency?
No shit? Huh. I tried to explain it the best I could, but I am going to read it one more time and see if I can glean any more info.
Okay, as I understand it they will be using the 2nd and 3rd Penny (entertainment tax) to pay off bonds. In other words borrowing more money instead of just using the revenue to pay for things up front.
Is it safe to take a shit in Sioux Falls again? The mayor said to pretend we are on a hunting vacation and then not to flush the toilet and so I took a shit in a bag but now we are running out of bags. I wish I was a monkey at the zoo.
Yeah, I hope they are not changing the water in the Snow Monkey hot tubs.