Monday, October 19, 2015

Board of Mythomania settles for $23 million for James Monroe

Just saw this on tonight's agenda. Apparently, a settlement has been reached for $23 million with the insurance company and they say they'll no longer need to use the $18 million Bond Referendum ($28  million Cost less $9 million in insurance proceeds) that was passed earlier this year. Happy to hear that bit of info.

According to their numbers, that $18 million bond would of cost $31.1 million over 30 years with interest, and less state aid, our portion would of been $24.6 million or 79%.

Of course, you have to wonder where the other $5 million is coming from to cover the $28 million or if they really needed it

Anyhoo, saved from another bloated bond referendum from the Board of Mythomania.

1 comment:

  1. it is good news we are getting something back , i could only wish the superintendent would have had the drawings and plans reviewed for cost savings , then we could have had a school built at no cost to the tax payers , but i guess he did his job by only costing us a few million