Adequately funding capital improvement projects has always been at the top of my list of priorities. In order to tackle the ever mounting “to-do list”, the county executive must conduct long-term borrowing to finance these projects. I support this borrowing process as a method to responsibly maintain the many county roads, bridges, culverts, and buildings and structures.

As we have done in the past, the county is preparing to go to market to borrow for capital improvement projects. The 2012 package totals $24 million. This is usually a routine matter, however, this year the county executive is insistent that the county return to the market after a several year absence. The control board has been borrowing on behalf of the county. The county executive, comptroller and control board all agree that the control board can save the county money by borrowing at a lower interest rate, yet the county executive, with the support of the comptroller, wants the county to borrow. It will cost the county an additional $860,000 to borrow instead of the control board. Obviously, I don’t support this plan.

I am hoping the county executive rethinks his plan and borrows through the control board and doesn’t pass up an opportunity to save your tax dollars. At the Legislature’s June 21 session, the majority of the members approved a resolution that I cosponsored, encouraging the county executive to save taxpayer money and direct the control board to do the borrowing.

Presenting his reasoning under the guise of a possible better future, the county executive has said that going to the market now could help the county improve its bond rating. However, data shows that the probability of the county surpassing the control board’s market rating is low. Also, the control board will be here until at least 2028 because of outstanding debt and until 2039 by statute. The control board, with its better rating, is ready and available to conduct the borrowing. I support borrowing at a lower interest rate and saving $860,000.

The County Executive has stated that he will go to market this month but, to date, has not yet. The majority of the legislature continues to voice our concerns and reasons for opposing his borrowing plan. Elected officials must always remember that we are here to serve the best interest of the people, the taxpayers, and do our due diligence when making decisions on how to utilize those tax dollars; that includes refinancing our current bonds through the control board and saving an additional $1.5 million, an issue our county executive needs to explore immediately.

As I stated, I support long-term borrowing as a means to finance necessary infrastructure projects, I do not, however, support the method our county executive is planning to use.

I will continue to provide information concerning issues that affect you. Please don’t hesitate to contact my office at 858-8850 should you have any questions or concerns.