This Tuesday,?March 11:??Special school election in Ocean City to?borrow $2.5 million over 10 years–and pay?interest and?”transaction fees” to Wall Street.???This borrowed money will pay part of?$6.7 million? for replace?roof, generator, hot water boiler, etc.???http://ocnjdaily.com/2014/03/04/district-pta-work-to-get-out-vote-on-march-11-school-referendum/ State government will pay $2.4 million.
Until ten years ago, school districts?only borrowed for new buildings–not maintenance.???Every condo board member has legal duty to set aside?enough?reserves each year for repairs like this.? Years ago, Steve Lonegan warned that towns could no longer afford repairs?when Democrat Governor MccGreevey forced every town and school district to hire only union contractors or?follow expensive and wasteful union work rules with “Project Labor Agreements”.??? Republican Governor Christie won Democrat support by doing same thing.?? Also, why is the state bailing out a rich?town like Ocean City which collects most taxes from?vacation homes that don’t cost anything for schools????If we had liberty, all state money would be paid?equally to each town based on the number of students.????But?we have tyranny instead.??Only a few?”lucky” ?towns get? the ?grants?,?and?Governor can use that money to?reward “friends” and punish enemies.?? Both Republicans and Democrats ignore clear language in State Constitution designed guarantee equal treatment for everyone.??
