Indebtedness
Section 1. No political or municipal corporation in this State shall ever become indebted. in any manner or for any purpose to an amount, in the aggregate, exceeding two per centum on the value of the taxable property within such corporation, to be ascertained by the last assessment for State and county taxes, previous to the incurring of such indebtness; and all bonds or obligations, in excess of such amount, given by such corporations, shall be void: Provided, That in time of war, foreign invasion, or other great public calamity on petition of a majority of the property owners in number and value, within the limits of such corporation, the public authorities, in their disecretion, may incur obligations necessary for the public protection and defense to such amount as may be requested in such petition.
Freedom Of Speech would like to ask:
* Has Mr. Mayor been truthful with the taxpayers and City Council members concerning Scribner Place?
* Has Mr. Mayor mislead the Council again by witholding vital information?
* Has Mr. Mayor set the taxpayers up to foot the bill for Scribner Place?
* Has Mr. Mayor broken his campaign pledge: I will not put all of our eggs in one basket when it comes to Scribner Place?
* Has Mr. Mayor left the citizens with too many questions and not enough answers by not doing a feasibility study?
A true leader of New Albany would come out and say:
I have this great idea But...It bypasses the State Debt to Income Law. It is a risk but...Can the taxpayers and city benefit from this risk?
We truly need to ask ourselves is the "risk greater" than the need for Scribner Place?
