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Post by abbd on May 17, 2006 7:00:59 GMT -6
OK, our elected officials say they need more of our money, LUS needs to be sold! $900,000,000.00 is alot of money and will accumalate lots of interest! LUS only puts $15,000,000.00 a year into the city coffers but the interest on $900,000,000.00 at say 5% is $45,000,000.00 a year (tax free)(and sure as heck looks like a 300% raise) and we rid the taxpayers of many many city employees salaries, health care etc(and future indebtedness for upgrades etc.). Heck LUS is only making 1.7%. Of course the collectivists and central planners will cry and gnash their teeth about it but alas that's what they do.
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percy
Full Member
Posts: 101
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Post by percy on May 21, 2006 8:30:04 GMT -6
Actually, abbd, it is Section 4-08 and according to the LCG charter as well as the old city charter, any funds would have to be used for capital improvements within the CITY OF LAFAYETTE.
Section 4-08. Utility System, Sale or Lease.
A. The Lafayette Public Utilities Authority shall not sell, lease or in any manner dispose of the utility system or any substantial part thereof without approval by a majority vote of the qualified electors residing within the boundaries of the City of Lafayette voting in an election called for that purpose. This shall not be construed to prevent the disposal, with the approval of the consulting engineers, of property which has become obsolete, unserviceable and not necessary for the efficient operation of theutility system. The proceeds of the sale of such property shall be used to purchase or construct other capital improvements for the utility system.
B. In the event of the sale or lease of the public utility, the proceeds shall be used for capital improvements in the City of Lafayette.
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Post by zoe10850 on May 21, 2006 13:45:22 GMT -6
Sell LUS, lease the right of ways, build some overpasses and widen roads, eliminate municipal government. We could be the best parish in the state.
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Post by abbd on May 22, 2006 5:43:56 GMT -6
4-07 states that ILOT dollars CANNOT be used outside the city limits of "the City of Lafayette". Now tell me, is there a special "lock box" that the ILOT money goes into or does the ILOT money flow in to the general fund? Is our local government violating the "charter" on a daily basis?
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