Although I seldom vote to approve a bond issue myself I do see them as at least giving the public SOME direct input into the allotmment of Government expenditures, so in that regard I could not sign onto a blanket condemnation of the process such as the lte writer seems to condone.

"It is so easy to spend other people's money."

That's why bonds pass. It isn't a tax increase for all. I agree with janherman that there are cases where bonds might be appropriate. But they should not be used for luxuries such as civil rights museums, swim centers, etc. And throwing any more money at the white elephant is always a bad idea.

While I am a huge fan of municipal bonds as they are a tremendous interest savings vehicle for cities counties and special districts, I respect those who will pick and choose the bond proposals.
One Caveat:
Cities and Counties have been for the past 15 years, utilizing Certificates of Participation which are pseudo municipal debt, but they can be issued without a vote from the public. They are usually one letter grade below the General Obligation debt of a municipality and they are paid from line item interest. They are NOT full faith and credit bonds and are used to skirt the law on referenda.
Example:
Let's say Greensboro needs a new communications system for the police dept. They issue C.O.P's that promise the holder they will receive interest paid twice per year and the principal returned upon maturity of the bond. The city council does NOT have to take that to the public for approval like they do with a straight muni bond proposal. Bondholders give up full faith and credit, but feel reasonably assured that the city will still pay them each year. What could prevent the city council from looking at the budget and saying, "Hey, what's this line right here for payments? Let's stop paying on that". Nothing could stop them. The city would not be in default on their G.O. debt as the certificates are being paid out as line items, not debt. God forbid some nut ever propose that, but it COULD occur. Greensboro has excellent credit as does our county, but we do have quite a number of C.O. P.'s out there--a big one for parking decks. The revenues from the decks go to pay the Certificates of Participation off, but those receipts can be up and down or can be lowered due to economic pressures--competition etc.

Bottom line, I'd rather see tons of bond proposals than see a few and know there are COP's being issued to skirt the vote.

Spoken like a true financial consultant, Demon. How's that line of work working out for you?

Deamon:
Great analysis except for the misuse of these bonds is just a blatant as the PODs. Our county has become used to misdirecting these funds into purposes never intended by the voters. Until this stops a vote "no on bonds" is a vote of "no confidence" on the county commissioners who have allowed this fraud to become common practice in our county. THERE NEEDS TO BE ACCOUNTABILITY!

How many millions have already been mismanaged on the "Museum" project and at the coliseum? The public has lost trust and more and more "special" bonds will fall down.

Oak,
I got "booted" from Professor/Debate Coach down to Financial Consultant in ONE day! Don't you guys have anything else to do? I'm just a paraprofessional gynecologist/hedge fund manager.

Looks like those museum bonds are going to be like the weeds in my yard--no matter what, they keeping coming back!

Demon,

You, yourself, stated at one time that you were a financial consultant, and you despised the rich people for whom you managed their portfolios. Have you forgotten that post, and did you reveal more of your identity than you intended?

Yeah, I agree that the Ross Smith, Dabate Coach, was not a good fit for you. Some followed that one down the road wrongly. You are right here in good ole Guilford County, somewhere like High Point? Maybe a financial consultant at an HP bank? Is that RICH neighborhood that you live in where you despise the Republicans really Emerywood? Do those rich people in your neighborhood for whom you manage their money know that you secretly despise them? I bet not. It is a very good reason why you don't want your identity exposed. You'd lose your livelihood, wouldn't you? You are right when you said that everyone would be surprised at your real identity. They wouldn't be pleased with you at the Country Club, would they? Oh, how's that $1,000 Kinley SX working out for you? Was that what you were riding in the Tour de Tanglewood with your family?

Demon,

No, we don't have anything else to do, but to out you. It's our life, now. And, it seems that you have more free time than any of us based upon your many posts all day long. Is the financial consulting business that slow?

Okay, Okay! Enough!
I am Ross Smith Hoggard, the Financial Consultant from High Point, who is also a Virginia political operative, living in Emerywood. Hope I didn't leave anyone out.
Leaving for Savannah today so put your shoulders to the wheel.
Guess as Brooke Benton would say,it's gonna be "A rainy night in Georgia".

So far I have yet to see one bond that I would get behind and vote for. More money for the coliseum, I don't think so. More money for the Civil Rights Museum, no way! Swim center....et al....no no no no no no no!

Bob Ayers and Nitpicker you are spot on. To these tax( bond ) and spend fools I say NO,N0, NO, MO, NO and NO !!