Supervisors from the towns of Ulster and Saugerties contend Ulster County Resource Recovery Agency officials are assuming too much about how municipal contracts should be handled.So here are my questions: How much is still owed on the principal of the original UCRRA deal? How, exactly, were the the ToU's annual payments affected by the refinancing? Did their payments go up? Did they go down? I assume the deal was refinanced in order to take advantage of historically low interest rates. So, if the rates were cut from, say, six percent down to two percent, this would cut interest rate payments on this deal by two-thirds. How much money is actually being paid out?
The disputes were brought Monday to the county Legislature’s special committee on the trash agency’s future.
[. . .]
Ulster Supervisor James Quigley contends the trash agency violated terms of a contract by extending from 2016 to 2025 the payoff date of bonds used to close the town landfill.
“We were in contract with the RRA as long as the original debt was outstanding,” he said. “When the debt was refinanced in 2002 ... (agency officials) unilaterally extended the town of Ulster’s obligation.”
Agency attorney Stephen Wing said he believes the change in bond payoff date keeps the town under contract through 2025.
The reason we need to know answers to these question is that the refinancing should be saving the taxpayers money, perhaps quite a bit of money. But the article doesn't mention this is all. Ask Quigley to show how this deal is costing residents of ToU more money. Pretty simple.
My guess is that the refinancing did the opposite and is saving money, and that Quigley is once again talking out of the lower portion of his anatomy and looking to score cheap political points in order to keep his name in the paper.
Maybe someone at the Freeman could ask Quigley these questions. My guess is you'll have to do a FOIL request because Quigley won't cooperate.
Cloakroom, Quigley is one of the few honest politicians left in Ulster County. Having to address your continuous partisan crap, just tells me that you and your Demo friends are hysterically afraid of this guy. Here is the real challenge. Can you actually be fair to any elected Republican.? Hmmm.!!!!!!!!!!!!!!.
ReplyDeleteHah! I see that Quigley reads this blog. And I'm sure Mike Hein is quaking in his boots. ROFLMAO!
ReplyDeletejust for the record 2:28, I'm not Quigley. What I am is a citizen of the town of ulster, a political observer, not active in any party, and sick and tired of assholes calling out the decent and honest public servants because it satisfies their small minded agenda's. I am also tired of blogsters like this and others who only see the world through one color. That goes for all parties and all agendas. One of the reasons this country, state and county are such a mess is because their are fools who pretend to be voters , who pull the lever for one party or one issue. Not all Republicans are good or bad. Not all Democrats are good or bad. Someone needs to wake up the moron who writes this blog, because he or she is more of a problem than a solution. Thats who I am.
ReplyDeleteYes, God forbid that people should have opinions -- and that they should express these opinions. It would be so much better if our elected officials simply told us what to do. Go live in China why don't you?
Delete