Why should I sign this petition to protest the the authorization of a $7.75 million loan issue?

1.  Signing this petition does not mean you are against improving our parks and city facilities.  It just means that you want to know what the plans are before committing your hard earned, taxpayer dollars for the next 20 years.

2.  Signing this petition will force this loan issue to a vote in an election. It will let the people decide if they want this resolution and its inevitable tax increase.

3.  This loan issue is for $7.75 million.  This loan issue is for a balloon  type loan.  The $7.75 million in loans will require a tax increase after elections because the payments increase each year.  This loan is very difficult to budget because it does not have fixed payments.   The loan places the city of Clinton in debt for 20 years.

4.  This loan issue does not specify how much money will go to parks and recreation and how much money will go to furnish city buildings or to the construction of new city buildings.  The resolution's plans for this money are very vague.  This resolution does not separate the money for municipal buildings from the money for parks.  The city has provided no plans with this resolution.  What are the exact plans for the park?  What are the plans for new city buildings?  What furnishings will be bought?  Signing this protest will force the city to an answer these important questions.

5.   In the near future, the city is also planning to issue even more debt for a new public library, a conference center, and required school improvements.  We have not finished paying for the parkway and several other active bond issues.  Along with this loan issue, the city is also borrowing an additional $1.8 million to finance city buildings.  Does our city government really need more offices?  Too much indebtedness will severely limit future city options.

6.  This loan issue for $7,750,000 will total $12,854,250 with interest.  There are 8,328 homes in Clinton according to the last U.S. Census from 2000.  On average, that obligates each home owner in Clinton to pay $12,854,250 / 8328 = $1544 for this loan.  The Mayor and  Board never wanted or asked for your permission.  These projects generate no revenue.  They are 100% dependent on tax collection.

This petition will authorize an election and let the voter's decide!