Fishwrap Misinforms Again – Bond Financing 101

by Clayton Moore

How much worse can it get – from the folks who make their living at the Daily Fishwrap?

Their so called “business editor” is seems…is working full time to misinform Avon voters and property owners about this years November 5th, 2013 election.

Even though the Avon Ballot language (is unusually clear) on this point of what the “costs” of Bond Financing are in the town of Avon.  Business Editor – Scott Miller – found a new way to mislead/misinform the voters in Avon, again.

From the actual 2A Ballot Language…

Ballot-Issue-2A

Note:  The difference above in the “total amount borrowed” vs. the “total cost to repay the bond debt – due to years of interest payments”.  $12.5Million vs. $22.6Million.

Under the current Avon Bond Plan – it costs (projected) almost twice as much to pay back as the amount being Borrowed, Mr. Miller!  That additional Debt…secured of course by a Property Tax Lien against your Avon residential and commercial Property.

Now here is how the Fishwrap’s Genius Business Editor (photo) – reported his Ballot information to Avon voters….

Scott-Miller-8OCT2013

The “DEBT”  ($22.6Mill) Mr. Business Editor is what the Avon Property Owners will have to pay back – in order to cover what is being “BORROWED” ($12.5Mill).

Got it?

PS – Last time the ECT folks checked…Mr. Miller was living in Gypsum…not Avon.

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