Parks Bond Issues Pass — Despite Dire Warnings
ST. LOUIS, Mo. (KMOX) — A plan to borrow $64 million from bond investors to fix up Forest Park and the city’s other 100 plus parks passes the Board of Aldermen, despite warnings it could bring regrets years from now.
“And my worry is we’re going to take all that money and spend it all in the first two or three years,” said Alderman Antonio French, “And then for the next 27 years there’s going to be no money to maintain our parks.”
French spoke out in opposition on the floor of the board, questioning how his colleagues can “rush through” a plan that will obligate taxpayers to pay back the bonds over 30 years.
“What is going to get cut? Where are we going to get that money? What taxes are we going to raise? What fee are we going to increase on our citizens to pay for the $1.6 million that we’re allocating for really what is a luxury?” French said.
In Earlier debate, Comptroller Darlene Green also spoke out against the bond issues, warning now is not a good time for the city to take on more debt.
In the end, supporters passed the plan by a 24-4 margin. Mayor Slay is expected to sign it into law.
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