LIES, LIES, AND MORE LIES
10-25-07
It was told to the citizens that if the bond issue is passed, the city is bound by law to spend the money on those projects. THAT'S NOT TRUE. With a majority vote of the council, Crenshaw block & Martin, and and all money from the bond issue can be put to any use in the city - even the general fund, which is the Mayor's pocket money. The money will be diverted to whatever projects will get him re-elected. A little paint here, a little sidewalk there, a little contribution of citizen money in the right places - you have bought votes with city money.
It is not good to have a loan against the city. The way a bond is rated is the assets of the city. If the city assets grow, the amount of the bond eligible for issue rises. It has nothing to do with whether we have an active bond or a paid out bond. You do not have to keep debt to be assured of a loan.
He said the highest bond debt would be paid at the beginning of the bond payments. THIS IS NOT TRUE. He said the issuer structured the bond to pay off the equipment first. IMPOSSIBLE. Who is coaching him with these lies? Bond debt is level pay. Each payment is the same and for every expenditure of equipment included you will be paying for the equipment the total length of the bond payment. If equipment such as cars and equipment are included in a bond issue and they wear out, we are still paying for this equipment for 20 years. Equipment life is 3 to 7 years. All bond debt is put together to form one payment. To broadcast to the public about this structure of payment is else intentional lying or pure stupidity.
The decrease in population in our city has been more pronounced in the last seven years than in any other time in recent history, except when Craig Air Force Base closed. For him to elude the fact that people are not leaving Selma because of him is silly. People are leaving Selma because of crime, division, reverse discrimination, and his vindictive attitude. He always uses comparisons to cover up his failures.
He said he had a feasibility study done. No money was authorized for a feasibility study for a theater. Who did it? How did we pay for it? When was it done? The fact is he did it in his head and let the lie come out of his mouth. There is no record of a feasibility study for a theater, except for his word. You can believe that if you want. We do not believe him because of past lies thrown out to the citizens, the very ones he's swore to protect and care for.
He said the most wanted project in our city was a theater. Can't he see the tears and screams caused by crime? Don't he hear the gunshots being fired nightly in our city? If he lived here he would! The first priority of municipal government is to protect the citizens. What idiot would think a movie theater will solve our crime? Guess!!!
He has repeatedly said we have $1,700,000 bond debt. Believe him or the facts? The following excerpts from the 2006 audits shows $9,135,000 in bond debt with total payments to the end of the bonds is $11,891,663. Does this look like $1,700,000? The remaining money available from the supposed bond debt capacity is $8,108,337. He is wanting to borrow $12,000,000. We will be $4,000,000 over our capabilities versus our assets. That leaves no capacity in reserve for emergencies that might occur involving our city. This is a dangerous financial situation to put the citizens of Selma in.
See the attachments of factual information from the 2006 audit. This mayor is off his rocker! He is arrogant enough to think people won't follow up on what he says. With his track record, with what he feels is the truth, everyone needs to check behind his version of "honesty".
The slight differences in figures on the attachments are because the Mayor and his Financial Director don't know the exact figures needed by the Auditor.
