ATTEND GAINESVILLE COMMISSION MEETING TONIGHT!!
ATTEND – Monday-Sept. 10th @ 6pm at City Hall!!!!!!! EVEN IF YOU ARE NOT A GRU RATEPAYER THIS GROSS MISMANAGEMENT OF TAX PAYER DOLLARS WILL AFFECT EVERYONE IN THIS COUNTY!!
*STOP the Risky Half a BILLION Dollar VRDB (variable rate demand bond) scheme to Pre-Pay GREC for biomass power
From County Commissioner Susan Baird: Plan to attend the City of Gainesville Commission Meeting TONIGHT at 6:00 P.M. After voting on the millage rate for property taxes for 2013 they will discuss the approval of a $600,000 consulting fee for a Variable Rate Demand Bond in the amount of $500 Million – the cost of the GREC Biomass plant. This Bond will be for a prepayment in order to attempt to lower the expected electric rates but when interest rates increase, this could make matters worse later on! Very risky.
From Citizen Activist Debbie Martinez:
Please read the Gainesville Sun article following my email. This is exactly what citizens have been warning about.
They make it sound so benign, Just $600K for advice to Pre-Pay in ADVANCE for Biomass Power that we do NOT need.
They mislead/or lied to the Public Service Commission and GRU customers about the rate impact only going to be $3 or $4. Later they were pressured to revise the biomass rate impact to $10.56. Nathan Skopp confronted GRU and the City early this year that the biomass rate impact could be much higher than $10.56 and now they are desperate. To fix the mess made by their bad decisions to enter into this risky overpriced biomass contract they want to Double Down their BETS with extremely RISKY Bonds with HIGH FEES in order to save political face. They need to Let the rates RISE to the level that reflects the contract.
Once the Commissioners pre-pay, GRU customers are stuck and our economy will tank as businesses flee the community and NOBODY will want to buy a home and be stuck with SKYROCKETING electric bills. They may be able to keep rates at our current HIGH rates for a few years with these risky bonds but down the road we will be looking like Harrisburg, Penn., and Jefferson County,Alabama. Please attend the meeting tomorrow at City Hall at 6pm.