20080709 Westminster common council to hold special meeting this evening

Westminster common council to hold special meeting this evening

City Council: City Council Members Minutes of City Council Meetings

CITY OF WESTMINSTER, MARYLAND

http://www.westgov.com/citygovernment/agenda.asp

On July 9, 2008 at 7:00 PM there will be a Special Meeting of the City of Westminster Mayor and Common Council to approve the issuance of a $3.5 million dollar obligation bond. The meeting will be held at City Hall.

Hat Tip: Bryan Schutt of the Carroll County Times

Lots of folks have asked me questions about the $3.5 million loan initiative and I only know what Mr. Schutt has reported.

There was essentially no public discussion.

Questions persist as to why a special meeting –that they are simply going to rubber stamp approval. Why not wait until Monday evening’s regular meeting?

I do not know the answer.

They legally have to have the meeting to authorize the mayor to execute the documents. Why they did not do that before is a fair question, but the last meeting was cancelled as city officials were at the MML Summer Convention…

Many folks are curious as to what source of revenue has been identified for the repayment of the loan. I’m not sure I definitively know that answer.

The lack of dissent in the current administration had lent credence to critics who wonder where's the debate, the transparency and the thorough vetting of issues? Why does every vote appear a rubber-stamping?

However, Westminster voters endorsed the current administration’s leadership style and method, and anyone who didn't think that meant increased spending, increasing the size of government and increasing taxes as a way to provide for additional government services and regulation is so out-of-touch that they don't deserve a vote.

Meanwhile Mr. Schutt has reported: (See also: 20080708 Articles by Bryan Schutt of the Carroll County Times on the Westminster FY 2008 2009 budget)

The $3.5 million will be used to finance several city street projects. The Common Council originally approved the decision to borrow the money during the city’s June 9 meeting.

Mayor Thomas Ferguson said the council will vote during Wednesday’s meeting to adopt an ordinance authorizing the mayor to sign all of the documents involved in the loan.

As previously reported, Roland Unger, Westminster’s director of finance, said the $3.5 million loan is for a nine-year term, borrowed at a 3.66 percent fixed interest rate.

He said the debt service on the loan is $571,000 per year.

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