During the time they controlled the city, coffers were stripped, services squandered, and bond money apparently mismanaged. But the city continues to owe. Now, the city must move ahead instituting a property tax increase.
The bond in question, a $50 million issue to pay for a state-of-the-art sports, library, and athletic facility. But with the money already spent and nothing to show for it, the increased revenues will go to pay back bondholders, meaning that residents will pay for something that will never be built.
The property taxes in Bell are already among the highest in Los Angeles, meaning that this increase with no reward will only further add insult to injury, as the city struggles to move on in the post-scandal era.
From the Los Angeles Times:
It’s one more legacy of the Robert Rizzo era, even though residents thought they had turned a page when the former city administrator was taken away in handcuffs, the last of those accused in a sweeping public corruption scandal were voted out of City Hall, and a new City Council was sworn in.
It’s one more legacy of the Robert Rizzo era, even though residents thought they had turned a page when the former city administrator was taken away in handcuffs, the last of those accused in a sweeping public corruption scandal were voted out of City Hall, and a new City Council was sworn in.
Read the full article here.