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Bonding Road Repairs Triples Costs

Not putting road repair money aside each year triples our costs.

Vernon’s DPW Director has told the Town Council that putting aside money to repair roads when they first need it, rather than let them deteriorate until the next bond issue, would cut our costs in half.

When we borrow, Vernon’s taxpayers pay almost half the face value of road bonds in interest.

So $10 million in repairs becomes $20 million because roads deteriorate further while waiting for the next bond issue.  Then the cost jumps to $30 million when we pay back the bonds’ principal and interest.

With road repairs, waiting and borrowing triples our costs.

Council Republicans know this.  But as the party of “low taxes” they refuse to put money aside each year for road repairs. Politically, bonding road repairs is smarter. Wait for the roads to get so bad that the need for repairs is obvious. Republicans trust that few taxpayers  will know the high costs of waiting and borrowing.

At the 3/31/15 Council meeting, Republicans again voted down a proposal to put money aside for road repairs.  Financial conservatism took a back seat to re-election politics.


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