
Sac City — Spend $70 Million on Lifesavers
At the start of every winter when I was growing up I would pull my winter coat out of the closet and find some surprises that I had left in my pocket the year before. Usually, it was a half eaten pack of Lifesavers with some lint around the wrapper. (I loved it when Santa left a book of Lifesavers in my stocking.)
Every now and again, I would be shocked to find a couple bucks crumpled up from my last trip to the slopes and I would blow it on something I thought was important — some video games or a movie.
The other night The City of Sacramento found $70 million for a general fund bond to fund capital improvements. To pay off the bond the city will use local property taxes that had previously been diverted to the state — a compromise struck by the League of Cities and Governor Schwarzenegger to give local communities more control of tax dollars.
Unfortunately, we can’t count on the City of Sacramento to do the right thing and return a portion of the $6 million a year to taxpayers. So… Read More