The 29 Palms City Council has once again willingly jumped into the trap of The Myth of Sisyphus. We all know about Albert Camus‘ philosophy of the absurd where Sisyphus was condemned to repeat forever the same meaningless task of pushing a boulder up a mountain, only to see it roll down again.
The Twentynine Palms City Council found out the hard way what the College of the Desert, Coachella Valley Unified (see below for story) found out: The Coachella Valley bond debts cost them hundreds of millions of dollars more than they borrowed by the time the debt is paid off in more than 30 years.
According to citizen extraordinaire and a former 29 Palms City Council member veteran, Steve Spear, “… $600,000.00 a year will be placed into an account for the next 30 years so as to pay back 31 million in bonds that to date have built or bought nothing (emphasis added).”
Meanwhile, last Tuesday another $200,000.00 was made available by the 29 Palms City Council that will go to the law firm of Rutan and Tucker to litigate a dead-bang looser suit against the state.
That money was to be used to “wind-down” the old rda. Now that that money is no longer available because the city council wants to resurrect the old rda.
Will they need money later on to wind-down? Do they care? Does the city manager care? Lots of question marks but one thing is certain — voters and residents do care. And if the city comes up short in their winding-down process, where is that money going to come from? The city’s reserve funds.
Dan Mintz does not run his multiple businesses in this manner. Jay Corbin certainly doesn’t run his consulting business in this manner. So why are they throwing loaded dice with taxpayers money?
This is another coup for Rutan & Tucker and their 29 Palms City Manager, Richard Warne. Well over a half million of hard earned taxpayers money pissed away in the last few years to enrich A.Patrick Munoz, a partner in Rutan & Tucker and his firm.
To this day our own Sisyphus city council continue to follow the absurd role of pushing the bolder up the mountain, only watch it roll back on them. All without remorse or any vocal concern about their constituency.
The city council lacked the courage to do things in the open and with transparency. Last Tuesday they choose to free this $200 K behind the curtains in a “closed meeting.”
You know, it’s not that difficult to just do the right thing. You just need the right people.
The following MyDesert.com story tells another sorry Sisyphean tale of abject ignorance, as follows:
A Coachella Valley community college and public school district have engaged in a bond strategy that will cost them hundreds of millions of dollars more than they borrowed by the time the debt is paid off in more than 30 years.
In recent years, both the College of the Desert and the Coachella Valley Unified School District have issued capital appreciation bonds as portions of larger voter-approved borrowing plans. The college and school district used the borrowed money to build new facilities, but the resulting debt — and its escalating interest rates — will linger long after the buildings lose their shine.
Full story, Link here
Incoming search terms:
- future of twentynine palms