.jpg)
Then Google this! GO HERE and click on the second item. If this link doesn't work, then use this search item. award of bids & salisbury & fire & suntrust
GO HERE if you'd like to see additional documents proving the Fire Department is in fact leased through Sun Trust Bank. Use the following if the link doesn't happen to work. salisbury & minutes & new fire & lease
Now let's see if these nay sayers want to come back and thank me for delivering PROOF and information they could not get elsewhere and did not read elsewhere. Then I want them to think about why they're still paying for the Daily Times?
Joe,
ReplyDeleteWhat’s the big deal about the City of Salisbury entering into this agreement with SunTrust to finance the construction of the Cypress Street fire station. Private enterprise and agencies of government do this all the time. 376 of the 952 subway cars operated by the Washington Metropolitan Transit Authority on their rapid transit system in Washington DC were procured using a lease purchase financing agreement. Virtually all of the new locomotives running on the railroads in this country were procured using a lease purchase financing agreement.
These are just two example I know of. I would hazard a guess that if you were to do some investigating you will find hundreds if not thousands of similar lease purchase agreement for facilities and equipment between banks and agencies of government.
Sand Box John
so basicly the city is paying for the new station twice.
ReplyDeleteDoes the city actually HAVE $10million sitting around, or would we have expected them to finance in some way this boondoggle? Question is, were they forthcoming about the details of the financing, and is it a usual and customary way for this to be done?
ReplyDeleteI don't know enough to comment, but I hope some of the knowledgable readers have insight.
that means the taxpayers pay for it twice, and most everything wont last that long, trucks, equipment,furniture, office supplies, tv's....anything those children put on that line of credit will be replaced a few times in 20yrs....what happens when the lease is up? rent goes up?
ReplyDeletethats so stupid, someone should go to prison for that!!
It's a Lease/Purchase. This means at the end of the 20 years the City more than likely will pay $1.00 for the building and own it.
ReplyDeleteHOWEVER, let's keep in mind that the City also is supposed to pay $1.00 for their share of the GOB and sign a mutual agreement with the County to own and maintain the building and they have yet to sign ANY agreement with them.
YOU/ME the taxpayer are being screwed. A lease is a lease, period. The taxpayers are paying at least double to four times what the building/property is worth, then interest to boot.
I swear to you, I was standing there during the original walk through a few weeks ago when Comegys flat out said, "We should be happy to get 30 years out of this building." I'm biting my tongue right now because I'm turning a new leaf but you know what I'm thinking, right?
Maybe a lease was the only way they could do it after giving away our future tax dollars in TIF's i.e. Old Mall and other subsidy's like the one for Walgreens $350,000 in tax breaks over ten years that actually resulted in a net loss of jobs after Giant discount drugs closed and Eckerd's jumped ship.
ReplyDeleteDon't forget that MDE has requested 3 new water towers at a cost of $3 million each, because we don't have adequate water reserves. I do believe it was SFD chief that said we don't have adequate water supply.
What is wrong with WISHING we could afford a new fire house? Most Americans WISH they could buy this or buy that. Our problem lies in the secrecy of the matter. How many of us knew about the huge expenditure?
ReplyDelete