Wednesday, May 17, 2000 |
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Henry County school bond with ours A short local article in the May 11 AJC informs us that neighboring Henry County's school board had just sold $32.7 million in bonds to First Union Securities, which had submitted the lowest among eight bids, at an interest rate of 5.21 percent. The issuance of bonds, for school construction, had been approved by the Henry County voters in March, when the vote could be held along with the presidential primary, thus insuring a larger turnout and saving the expense of a special election. Contrast their results with those of the Fayette County school board which, well before last September's special election, invited informal offers from only four bond firms, got no commitment on interest rates, did not take the lowest quote on the fee, signed no contract (which could have contained clauses protective of the taxpayers' interests), and yet publicly bound itself to using the bond firm that promised to campaign for a vote to increase the sales tax. (The legal ad for the short-term bonds stated the interest rate would not exceed 6.75 percent.) This illustrates the difference between competence and incompetence, and between integrity and sleaziness. If we truly need new schools in Fayette County, we could have school bond votes the day of the general primary, July 18, or the day of the general election, Nov. 7, without incurring thousands of dollars of expense for a special election at a later date. Two years ago, the school board lawyer fired the school board as her client. Lawyer confidentiality rules prevent lawyers from saying why they fire clients and it doesn't happen often but smart people know that it's generally because the client proposes to do something illegal, devious, or dumb, with which the lawyer does not want to be associated. (Nonpayment or dispute about fees are very seldom the cause when, as here, the taxpaying public pays the tab.) Neither the press nor the public seem to have caught on that there was something to look into there. With elections coming up, it is fair to remind ourselves that we, the voters, always get what we vote for. Now is the time to open our eyes, and (especially with a school board incumbent in the running) ask questions. Claude Y. Paquin Fayetteville cypaquin@msn.com
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