By Frank Williford – I expect the low key media treatment given to the proposed $107 million WISD bond issue has not generated enough serious thought by taxpayers. How much will taxes go up is not the most critical issue, even though it is important and an immediate 10% rise is estimated. A closer look at details of the proposed issue will startle you.
First taxpayers will not be on the hook for “only” $107 million. This figure is the base borrowing amount. When principle and interest are factored in, the tax payers will be liable for 1/2 Billion (yes Billion) dollars over the next 40 years.