The prospect of a 2009 bond issue is getting less likely as the financial news gets grimmer each day.
As noted in today's article by Michael Biesecker, county commissioners and school board members got a whole lot of bad economic news at Wednesday's joint meeting. The county's inability to sell $370 million worth of school bonds makes another big 2009 bond issue a hard sell.
“There’s no market for long-term debt, at least not under terms we’re willing to pay,” said County Manager David Cooke in the article.
The consequences of not selling the $370 million in school bonds is about to hit home. Commissioners and the school board will have to work together to slow, delay or even cancel some planned construction projects.
While school board members weren't prepared Wednesday to talk about what specific projects might be delayed, it will be on Tuesday's facilities committee agenda.
There's definitely a sense of gloom now among at least some school board members.
"We are going to go through a period of pain and we’re going to deal with that," said school board member Patti Head.
Comments
The "seats"...
Fri, 10/10/2008 - 18:02 — RiversideRealist"will not the County Commission be obligated to fund these seats..."
The "seats" are there. Convert the schools BACK, use a voluntary year round system, and actually ALLOW those who want year round IN, regardless of their friggin' F&R status.
It's so simple, it's scary; well, to everyone with half a brain (which would by definition exclude, to use Kyle's euphemism, the Ed Junta that is WCPSS, et al).
COPS?
Fri, 10/10/2008 - 17:19 — shank56If the court rules for WAKECARES , and against WCPSS, - and traditional seats are guaranteed for all, will not the County Commission be obligated to fund these seats - whether bond referenda are passed or available to be funded? ( Not sure of the lingo)
Will they be forced to issue Certificates of Participation , which I understand are more expensive than bonds?
Shearertw--I'm liberal on
Fri, 10/10/2008 - 13:36 — raleighreaderShearertw--I'm liberal on most social issues--pro-choice, in favor of gay rights, among other things. But those are probably my 2 'litmus' issues. I lean more conservative on fiscal issues but I'm still not all the way over to the right on those. More towards the middle. I definitely think that less oversight contributed greatly to our current loan crisis, for instance, so I think self-regulation doesn't work.
Was it less oversight or
Mon, 10/13/2008 - 08:56 — shearertwWas it less oversight or more government forcing banks to lower loan guidelines? I think the jury is still out on that one. Freddie and Fannie started the snow ball and were primarily run by liberal, big gov't policies, not conservatives.
I'd be interested to hear your perspective...
Well, well ...
Thu, 10/09/2008 - 14:55 — g88ky07They told us that we would HAVE to pass 3-5 more bonds in the next 10 years, back in 2006, and that we would get one every 2 years or so.
All of you who say I've never voted against a school bond are part of the problem! "Yes" voters have bought the lies and in part have allowed the school board to do what they have done and to take us to where we now are. Yes there are other issues, but giving these people EVERY SINGLE DOLLAR they want has allowed them to DO what they have done and are DOING!
Voting a total republican ticket is NO guarantee we're getting elections at large. Have all the Republicans said they will support this Joe Ciulla??
I doubt it! And if so how soon are they going to get it on a ballet? I'm not convinced voting this way solves anything, although I see that many Dems are being dimwitted about the issue. And why is that Joe?
Not having a bond next year won't hurt my feelings any, but MAKE NO MISTAKE, when EVER the next one comes I do not see voters in Wake County allowing it to pass just because Rosa and Chuck spew lies about how bad it's needed or how many lies Ann Goodnight and Ed Bonner throw at us or even a Hurricane player telling us he's all for it!
Incase you folks haven't noticed, and I'm sure you have, take a look at your investments this VERY afternoon! Market has crashed AGAIN pushing a 700 point loss with 10 minutes to go!
Projects are going to be halted in mass and schools are not going to be renovated, built and before long may not be able to be cooled or heated. How are they going to foot the bill for fuel?
Our economy is caving in ALL around us and it will be years, YEARS, before it recovers! This should light some fuses, but I say we can thank GW and his buddies! 10 BILLION a month being spent to be somewhere we probably never should have gone, bailouts and handouts and all for what?
But, we can also thank local and state leaders at ALL levels. Both sides!
School bonds, HA! Don't even mention that issue to me! I don't want to hear ANYMORE lies about the need, false projections #'s or any other Michael Evans spin.
NO BONDs should be approved EVER again until mass reform takes place in education in Wake County!
NONE!
Yes, voting Republican is
Thu, 10/09/2008 - 22:14 — FalcYes, voting Republican is no guarantee for getting at-large elections, but it's a start. The two WC reps who introduced HB 432 for at-large elections (Dollar and Alvira) are Republicans. So, they are at least trying.
Looking at the candidates website, Republicans specifically mention supporting the types of opinions I've read on this blog. I could not find similar content on the Democratic candidate sites.
Friendly Reminder
Thu, 10/09/2008 - 11:10 — joeciullaOn the subject of voting for Republicans..... If you want at-large elections for School Board members, then you need to vote Republican for all State Representative, State Senator, and Wake County Commissioner positions.
I'm not a Republican, but that's how I'm going to vote.
And, please tell a friend. The Dems have a death-grip on Wake County right now, and are spending 3 times as much as the Republicans on pretty fliers to maintain the status quo.
List of Candidates
Thu, 10/09/2008 - 14:01 — gstelmackhttp://www.takeourschoolsback.org/2008_Candidates.html has a pretty good list of where the various candidates stand on at-large elections.
Yeah, I think that list is
Thu, 10/09/2008 - 15:56 — joeciullaYeah, I think that list is pretty accurate.
Update to that list
Thu, 10/09/2008 - 14:09 — shearertwVernon Malone (DEM) told me "no", he does NOT support at large elections for the BoE.
voiceforequity.org
Thu, 10/09/2008 - 10:38 — jenmanvsheehan--I am with you on the voting thing. I am a Democrat & I really can't remember the last time I ever voted for a Republican. Certainly not for any national or state office. But I am considering it more and more this year for local races. I have a few 'litmus test' type of issues that I just can't budge on, but I am slowly finding that breaking point. Luckily, most of my 'litmus' issues are not ones that can be decided upon by local officials.
What's the 'litmus', just curious?
Thu, 10/09/2008 - 10:45 — shearertwJenman,
I'm glad you and vsheehan are considering a Republican for once. There is definately a deficit of those with regard to local rep. in this area. I'm just curious (respectfully so) about what your 'litmus' are? Do you mind helping a Republican understand your apprehension?
Privatize through universal vouchers!
Thu, 10/09/2008 - 08:15 — kmisegadesThe private sector builds schools for less than half what WCPSS spends, and in half the time. Enabling a $7,000/year universal voucher for ALL children would pay for all school construction, all operating costs, would cost less than the $9,600 now spent per child annually, and they'd get a far superior education. Look at Franklin and Thales Academies in Wake County for proof.
How many new WC private seats
Thu, 10/09/2008 - 09:37 — Bob_SconceKent --
So, I know about Thales Academy. But, my impression is that the demand for good private education in Wake County far outstrips the supply, and that the good private schools (Ravenscroft, Cary Academy, etc...) have huge waiting lists. If so, then it seems that private schools do not efficiently respond to market forces by building new capacity, which is a core underpinning of the voucher idea.
However, I suspect that you know more than I do about enrollment, waiting lists and so on, and would be interested to hear your view.
The money is not there Bob
Thu, 10/09/2008 - 09:50 — shearertwBob,
For once, I think your logic is flawed. The money is not there to support more private schools. I'll wait to hear from Kent but I bet the wait list just aren't quite large enough to justify building another school. Not to mention that the private schools have to compete with the county for land purchases, teacher salaries, etc. The county has the luxury of the deep tax payer pocketbook. Give the private sector some access to that pocketbook and I bet the supply increases.
Great ideas but there are
Thu, 10/09/2008 - 09:27 — vsheehanGreat ideas but there are certain kids, like my son, who private schools wouldn’t accept. Even special ed schools will not touch kids on the spectrum no matter how much potential the kids have. Plus most special ed schools cost more than $7000 a year. What happens to the kids from working class, lower middle class kids who can not pay the extra money the voucher does not cover? Do they not deserve a great education to?
With the money saved
Thu, 10/09/2008 - 09:44 — shearertwvsheehan,
With the money saved in a voucher system, there would be plenty left over for the gov't to create an program whereby parents could apply for more funding due to spec. ed. needs, etcs. Many private schools would then create excellent spec. ed programs to compete for those additional funds.
This is all a pipe dream, however, as the gov't run schools will never agree to something so terrible as competition. Na sayers will always cry "foul, racism, class warfare and what about my poor situation". There are currently no politicians on the "right" side with the guts to stand up to those comments and tell the truth.
I stand corrected, you’re
Fri, 10/10/2008 - 04:10 — vsheehanI stand corrected, you’re right. The private sector will change to meet the demands of vouchers. GA gives vouchers for Special ed kids only. The minute GA started doing it more private schools that were specifically for kids on the spectrum popped up. So I take back my comment and agree with you but only if special ed gets vouchers first. : )
Common ground
Fri, 10/10/2008 - 07:39 — shearertwI think we can find common ground there. But, I still believe the establishment will feed on the fears of the ignorant to prevent any movement towards vouchers in this state. That is why it is so critical to change the leadership on the local level.
I have never voted against a
Thu, 10/09/2008 - 07:59 — vsheehanI have never voted against a school bond but this BOE has changed my mind. The BOE is lucky they can’t sell the bonds because this year’s bond vote would have gone down in flames. I am even going to vote for republicans on county and state seats in hopes of the NC Democratic Party realizing people have had enough of the crap in Wake. Every time I find a way for my kids to receive a decent education in this academically failing county the BOE does something that sends my kids education back into the stone age. THIS COUNTY NEEDS TO SPLIT IN HALF!!!!!!
Voting
Fri, 10/17/2008 - 11:26 — Sick of It! (not verified)If you want change, Kenn Gardner needs to go too! he is a Dem. in Republican clothing, look at his record, he votes Dem. on every issue, so, I am thinking of voting for his Dem. opposition, (it can't get much worse). Betty Lou Ward needs to go, VOTE TILLEY, he seems like he has some good common sence. (Betty lou, and Harold Webb are pretty much worthless on the Board of Commissioners. They will spend every single dollar and vote in every single issue, no matter the cost. They are part of the reasons we are in this sad shape! Joe Bryan is not much help either! He flip flops and changes like the tide!
Wake Up Wake County! I'm Sick of It!
Keep Wake County as is...
Thu, 10/09/2008 - 08:17 — Dadof3but split up the school district.
In the real world.....
Thu, 10/09/2008 - 07:53 — WuptdoIn the real world, people get fired for incompetence.
They drag their feet thinking that the economic "party" was going to last forever. Maybe if they had turned over land aquistion and construction management over to the county, it might have been different. But NO, Patti, Millie, & Rosa liked being "wined & dined" by the construction crowd. Now, once again, we all pay for the mistakes of incompetent bureaucrats and self serving school board members.
When will the madness stop?
No Bond
Thu, 10/09/2008 - 05:47 — Tammy (not verified)Since wejust passed a bond 2 years ago I was in shock when the school system was going toask for a new one so close!In the 3 years we have lived here I stil have no idea how the WCPSS works anyway.
Unfortunatly I am sure a new bond is needed but the news of a not having one doesn't surprise me.I just read that the Wake Forest library rennovations are going to be on hold and that bond was passed 18 months ago!
Now I just hope the WCPSS actually renovates the Wake Forest Rollesville High School!Please don't change your mind on that one!
Tammy, You poor dear.
Thu, 10/09/2008 - 13:30 — Anonymous (not verified)Tammy,
You poor dear. They ask for new bonds almost every year..it's their little game. And by the way, the reason they are in the hole when it comes to school capcity is because of people like you. (and me, too) .. yes, you had the nerve to move here.. with children! The horror of it.
It's not their fault.. .it's always yours, so you will be punished by having your kids moved all around, YR no YR.. whatever they think up to shove down our throats.
."...a period of
Thu, 10/09/2008 - 05:03 — Anonymous (not verified)."...a period of pain"?!!!!!!!!!!
Oh, no Patti, WC parents are going through a LIFETIME of pain with WCPSS!