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Published: Apr 30, 2008 10:45 AM
Modified: Apr 30, 2008 10:45 AM

In Clayton, bond issues make sense
 
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On May 6, the Town of Clayton will ask its citizens to borrow $7 million — $4 million for parks and $3 million for streets. We can think of many reasons for voters to say yes.

Certainly, the growing town could use more and better places to play. The $4 million includes $2 million for a new 60-acre park on Glen Laurel Road. Remaining bond dollars would build restrooms and picnic shelters at All-Star and Municipal parks. Also, Municipal Park would get more basketball courts, more parking, playground improvements and reconfigured playing fields.

The street borrowing is worthwhile because of the breadth of work — the number of streets on the repair list is nearly five dozen. Simply put, after the work, it will be hard to drive on a Clayton street that hasn’t been resurfaced.

But beyond the need for parks and streets, the borrowing just makes sense. Obviously, the parks and streets will be around for years to come. By borrowing the money and paying it back over 20 years, Clayton will allow future residents to share in the cost of the streets and parks they will surely use.

Second, Clayton can afford this borrowing without raising property taxes. This particular council and its staff are nothing if not long on detail and information. So they asked a financial consultant — the same one the county uses — to look at the town’s projected revenue and expenses over the next couple of decades. That report clearly shows that Clayton can borrow and repay $7 million without asking taxpayers to give the town any more of their dollars.

When faced with huge spending needs, towns everywhere turn to borrowing. Then again, families do the same thing — borrowing money for a new house or car, for example. Of course, it helps to be able to pay the money back. In the case of street and park bonds, Clayton can clearly do that, so we encourage voters to say “yes” twice on May 6.

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