It's been a while, but time demands as well as staying within the laws of the Open Meetings Act make it difficult to write this blog. It's also less fun when professionalism and respect for other councilmen limit my "snarkiness".
However, Monday evening's events were important enough to write a quick post about the bond election.
Council was considering calling for a bond election in November for a bond package in the neighborhood of $60,000,000. That's about triple our current operating budget just for a point of reference.
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Is Rockwall about to file bankruptcy? No.
Is Rockwall in financial trouble? No.
Are we meeting our debt service and other bills? Yes.
Do we want to continue on a path of sound financial stewardship? Enfer Oui. Pardon my French.
Our unanimous vote of council said now is not the time, not that never is not the time.
We voted to delay holding the vote to call for the election until January. We will also conduct a financial review to see if it makes sense to call for a May election on this bond package.
A lot can happen. We hope it will get better, but if it doesn't?
It is also important to note that if the bond election passes, we would not be responsible for any debt - immediately.
We only start paying on debt service when we issue the bonds to pay for the individual projects.
None of these issues are dead, merely delayed.
David White
Rockwall City Council Place 1
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