In a guest column in Thursday's MDJ, Wills provided information that must have rattled the mayor's cage again.
Wills raised serious questions about possible illegalities in the scheme to buy back about $30 million in bonds issued for the money-guzzling city-owned hotel-conference center and then sell $35.5 million in new bonds - with about $5 million going to pay a prepayment penalty on the paid-off bonds - in order to get a lower fixed interest rate.
Citizen concern over City Hall machinations in the Bond-doggle deal is symptomatic of what's happening across the country in reaction to the elitism of many politicians who don't want to be bothered by the people.
That's why legions of fed-up Americans have turned out for town hall meetings and Tea Parties trying to get their elected officials to listen - only to be dissed by President Obama's mouthpiece as "not representative" even though a whopping 53 percent of voters oppose Obama's health care plans and 52 percent disapprove of his performance (Rasmussen).
Mayor Dunaway was asked after the furor erupted over his Bond-doggle plan why it was not submitted to the voters during the past year after the idea was hatched.
"I never dreamed that this would be an issue voters would want to vote on," he said. "It is the council and my responsibility to get informed and make the best decision. You can't take every issue to the public for a vote."
Putting the city $5.5 million or so deeper in debt on the white elephant hotel-conference center is not an issue voters want to vote on? And even if you "can't take every issue to the public for a vote" - you can at least let the voters know what you plan to do.
Like Bill Clinton's famous "It depends on what the meaning of the word 'is,' is," Dunaway invented his own definition to duck the meaning of words, to wit:
After the council agreed to lease the hotel-conference center to Remington Hospitality in 2007, the city issued two news releases declaring that Remington "will be responsible for all payments on the bond and for paying off the existing debt of the facility."
Any rational person would believe that Remington would make "all payments on the bond" and "pay off the existing debt." At least five members of the City Council believed it.
But not Bill Dunaway. Here's his definition of "responsible."
"I think it is accurate that they (Remington) are responsible. It doesn't say that they're absolutely going to make it. ... It doesn't say they absolutely have to no matter what."
By Dunaway's definition, if a resident is "responsible for all" payments of his water bill or taxes, it does not mean "absolutely" or "no matter what." Just try that out, folks.
It's no wonder people here and across the country don't trust politicians - on almost anything any more.
dmckee9613@aol.com
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What else could Remington be "responsible" for other than the terms of the lease it signed with the City? And what is so drivelish about pointing out that most loans include principal PLUS interest payments and the total cost of the loan is usually the SUM of the two -- not just the PRINCIPAL that you and the MDJ only seem to care about. Mr. Steve, exactly how many bank loans have you received that have no interest costs? I'm not sure what crimes have been committed and laws have been broken but I'm sure we'll find out. My guess is none. At the end of the day, the first order of business for the next mayor and the "blue ribbon" committee will be to refinance the convention center bonds under the same terms that are currently proposed (if they are still available) because it makes financial sense to do so. The only difference will be that the 1% fee is paid to a different attorney that is pre-approved by the MDJ and the editorial will declare a "Thunderous" victory for taxpayers.
What about "Responsible", don't you understand? Try using your logic on your next bank loan and see how far it gets you. You had better hope that Dunaway, who is probably the one "responsible" for paying you to write your drivel, has a better grasp of the meaning of the word than you apparently do. Otherwise you have made a fool of yourself for nothing. BY THE WAY! THAT IS NOT THE MDJ'S OPINION, IT IS MINE AND SHARED, I SUSPECT, BY EVERYONE WHO READ YOUR NONSENSE.