The Dekalb SPLOST & Failures To Disclose

There’s an interesting story brewing on the Dekalb County SPLOST. Follow me here, or go here.

See, if the SPLOST is approved by the voters in Dekalb County, the voters will also have approved the issuance of $300,000,000.00 in bonds to fund a portion of the Dekalb County School District. Further, approving the SPLOST will also mean the voters are approving a $10,000.00 bond for the City of Decatur to pay for school projects.

Now, this doesn’t seem too terribly awful up front. The bonds will be paid for by the sales tax money the SPLOST generates (assuming the revenue projections from the penny tax are accurate). So, property owners won’t be on the hook.

Apparently the “two issue rule” about ballot questions only applies to constitutional amendments. But, it does seem to me that voters might want to know that they are about to sign off on not just a tax, but also $300,010,000.00 in bonds. If the sales tax revenue does not come through, I would suspect that property owners could be held liable for the bonds.

Curiously and interestingly, Ed Wall, the MARTA board member who’s stepping down after allegations of gay sex in an airport bathroom is a bond lawyer and friend of Vernon Jones. I wonder if Ed and Vernon have ever hatched any of these schemes together — there appears to be a trend of bond lawyers pushing bonds via SPLOSTs. The connection between Ed and Vernon could make for interesting fodder in this area.

Technorati Tags: SPLOST

4 comments

  1. joshdondich says:

    oh This looks really good for a person who wants to run for US Senate in 2008 NOT! Vernon Jones is not going win on his ideal platform of being a Conservative Democrat when he is a extremly close friend with a guy who has homosexual intercourse in a public bathroom at Atlanta-Hartsfield Jackson International. This is revolting.

  2. Will Hinton says:

    I am no fan of Vernon Jones but what does Ed Wall’s actions have to do with him? Nothing. I’m sure that Vernon is as surprised as anyone at last week’s charges against Wall. Vernon should be judged on his own character and position on issues.

  3. Trackboy1 says:

    In 2001, Ed Wall wrote the bond for $125 million for DeKalb parks.
    In 2002, Vernon appoints Ed Wall to the MARTA board.
    It just smells.
    Plus, DeKalb has more bond issuing “authorities” than any other county in the state, filled with Vern appointees. Wondering how many of those bonds were issued by Wall’s firm.

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