Saturday, October 22, 2016

Edison Board of Mythomania's 2016 Lease vs. Purchase Lalapalooza?!?

Well, here they go again. Edison's Board of Mythomania is going behind your back again with these lease vs. purchase agreements to incur debt without voter approval!

Said it before and will say it again, this district has been in dire need to correct the overcrowding for a long-long time and this board has yet to put together a well thought-out, cohesive and practical plan for all the stakeholders to address the issues. 

All they do is piecemeal projects with ridiculously expensive capital projects and go around voter approval to fund them by using lease vs. purchase agreements. 

These lease vs. purchase agreements allow the board to incur debt for capital additions without voter approval. 

According to the agenda below, up for vote Monday night are 3 separate Lease Purchase Agreements:

1. Woodbrook School - $11,500,000.00 (less $6,500,000.00 capital outlay) - $5,000,000

2. Transportation Equipment - $780,236.77

3. Copier Equipment - $484,830.00

Geez, they're literally piece-mealing us into debt.

Anyhoo, not to worry, it's only Your money they're $pending to plug holes in a losing cause.

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