Living in another financial reality

Source: Frederick News Post
Author: Sally Sorbello
Article Type:
Date Published: 07/15/2012

The Frederick County Commissioners do not seem to understand the financial reality of the proposed Frederick/Carroll incinerator, since they claim that the NMWDA is on the hook for the bonds. That is like saying your mortgage banker is responsible for paying off the mortgage for your house. The NMWDA continues to mislead the public and our officials into thinking the incinerator is somehow a financial boon, that it will pay for itself. They mislead us because the incinerator means money in their pockets, to the tune of $500,000 a year at 3 percent markup, plus an ever-escalating membership fee (it is now $125,000 a year and will rise to $275,145 a year by fiscal 2015) for the next 30 years