04-22-2016, 05:59 AM
quote:
Originally posted by kalakoa
the 8.9% debt service amounts to app. $43mm/annum for both principal and interest
Meanwhile, the full authorized amount of the bonds has yet to be disbursed.
Nor am I seeing any substantive projects from this funding -- perhaps I should drive over to the west side and double-check.
The 8.9% bond debt figure would've been higher if the county didn't refinance their outstanding bonds recently. This figure would've jumped to 13.8% of the county budget if the county stood pat.
http://westhawaiitoday.com/news/local-ne...-bond-bill
Yes, the county does have some available bonding capacity, but it wouldn't be prudent the continually float bonds whenever a new road needs to be built. In short, nobody likes traffic congestion, but most people are unwilling to pay the cost of improving our transportation infrastructure.