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Re: Group Urges BOE to Fully Fund Schools
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Home away from home
 
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A couple of years ago, the late Councilman Yun invited me to his club where he showed me the city's bonds schedule. He was delighted the bonds would be paid off soon and concluded the tax rate would drop. I knew that would not happened, that the city would keep refinancing bonds. In fact, JC bonds have been refinanced so many times it has lost its tax exempted status. Tax exempt status only applies when bonds builds something. We are building nothing. What the city should do is make this information available for the public.
Posted on: 2021/3/6 13:34
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Re: Group Urges BOE to Fully Fund Schools
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Home away from home
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Great letter in the NJ.com site Yvonne.
Truly tells it like it is. Pity the older homeowners and the working people in Jersey City. Keep fighting the good fight.
Posted on: 2021/3/3 22:20
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Re: Group Urges BOE to Fully Fund Schools
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Home away from home
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No, you don't run a city that is short on cash to the point that you refinance your bonds that has one to 6 years left. Once those bonds are paid off, you have more money available. That is poor management and Fulop has been in office for quite some time so if there is a shortage of cash, he can only point to himself.
Posted on: 2021/3/3 16:02
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Re: Group Urges BOE to Fully Fund Schools
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Home away from home
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If cash flow is an issue, and interest is next to nothing, you refinance. Inflation will be above that interest rate in a few years. The city will make money from the refi.
Posted on: 2021/3/2 21:22
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Re: Group Urges BOE to Fully Fund Schools
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Home away from home
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No, it is not, those bonds were expiring in two to seven years. You don't refinance your mortgage if you have five years on your loan, you are paying more in the long run even if the interest rate is low.
Posted on: 2021/2/11 2:17
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Re: Group Urges BOE to Fully Fund Schools
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Home away from home
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At current interest rates, refinancing bonds is smart.
Posted on: 2021/2/10 23:03
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Re: Group Urges BOE to Fully Fund Schools
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Home away from home
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Several months ago, the city refinanced bonds that were do to expire in 2022 to 2027, because it did not have the funds to pay them off. The city should give an account to property owners on all debt.
Posted on: 2021/2/10 22:59
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Re: Group Urges BOE to Fully Fund Schools
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Home away from home
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It never ends. All the development hasnt helped reduce taxes. The rest of the world has seen shrinking budgets and decrease wages not city employess however.
Posted on: 2021/2/10 22:39
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Re: Group Urges BOE to Fully Fund Schools
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Home away from home
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This is the same group that want affordable housing which pays not a penny to the school system at all. They expect others to pay for affordable housing fair share of funding public schools.
Posted on: 2021/2/10 21:52
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Group Urges BOE to Fully Fund Schools
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Just can't stay away
 
Joined:
2021/1/17 15:21 Last Login : 2021/6/2 14:30 From Jersey City
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Members of civic group Jersey City Together urged the Jersey City Board of Education to fully fund the city?s public schools at Monday?s listening session on the 2021-22 school budget, at which board trustees said the district is in need of more money from the state.
https://jcitytimes.com/group-urges-boe-to-fully-fund-schools/
Posted on: 2021/2/10 18:43
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