Debt Crisis? Bankruptcy Fears? See Jefferson County, Ala.
Posted: Sat Jul 30, 2011 8:43 pmYep I saw that as well...
viewtopic.php?f=17&t=7275&p=69467&hilit=jefferson+county+al#p69467
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Debt Crisis? Bankruptcy Fears? See Jefferson County, Ala.
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Posted: Sat Jul 30, 2011 8:43 pmRe: Debt Crisis? Bankruptcy Fears? See Jefferson County, Ala
Posted: Sat Jul 30, 2011 8:49 pmRe: Debt Crisis? Bankruptcy Fears? See Jefferson County, Ala
Posted: Sat Jul 30, 2011 9:01 pmThe real 'beauty' of this, is business owners will not put up with it. As I said to my state rep, check it out. viewtopic.php?f=23&t=6982&p=66740&hilit=fann#p66740
Things will come to a head and this will eventually stabilize. The way I see it, all we have to do is beat the mean.
Folks who have successfully run a business of any kind have gumption and will be just fine.
I'm refusing to participate in communism. My dealings are designed to cut fat. It's just the economic reality and no one can change that reality.
Things will come to a head and this will eventually stabilize. The way I see it, all we have to do is beat the mean.
Folks who have successfully run a business of any kind have gumption and will be just fine.
I'm refusing to participate in communism. My dealings are designed to cut fat. It's just the economic reality and no one can change that reality.
Re: Debt Crisis? Bankruptcy Fears? See Jefferson County, Ala
Posted: Mon Aug 01, 2011 7:54 pmWell, I hate to say it, but I am very familiar with this situation since I live in Jefferson County and have been following it for about 15 years.
Situation stated when the EPA demanded massive upgrades in the system. Alot of the initial upgrades in the system were needed and the actual first costs associated with them were reasonable resulting in only a small uptick in sewer rates. I can remember that at the time a person's sewer bill would be about 1/2 of their water bill. For example if your water usage bill was $20 then a $10 sewer bill would be added to it.
Then as politicians are want to do they saw ways to use the issue to both line their pockets and inflate their egos. Before long they were taking kickbacks from developers to build new sewer lines on undeveloped land which the developers were eyeing for future development. Even worse they were refinancing the bonds every year or two - each time adding hundreds of millions in new attorney fees, finance fees, etc. and taking large kickbacks from the law firms and banks. Well, each refinance got larger and more complicated (dirivatives, higher interest rates and so on). I've read some estimates that say 75% or more of the total due now is simply from all the fees associated with all those refinances and have nothing to do with actual improvements on the sewer system.
A number of the commisioners are either now in prison or have been there, but the destruction is already done. To give you what it is costing folks now my mother's average water bill is about $20 to $25 a month, her sewer bill added to that each month is over $100 a month. I know couples with a couple of kids paying over $200 a month total water and sewer bill. The current County Commision insists that at least a further 80% increase is needed to pay the bonds. That will put a lot of familys paying in the area of $400 a month in water and sewer bills.
Strickly speaking from a personal view point, it has actually helped the value of my home. When I bought this one 10 years ago I looked for a place with a septic tank. Because I'm not on the sewer system our water bill runs about $30 to $35 a month and I have no sewer system charges. The county is making it just about impossible to get a permit to build with a septic tank now because they want everyone to pay the sewer charges, so those existing homes with the septic tanks have added value. The septic tank now has taken the place of the high end kitchen or other luxery add on ons to a house.
You mention to someone that you're home has a septic take and you can see the lust in their eyes.
Situation stated when the EPA demanded massive upgrades in the system. Alot of the initial upgrades in the system were needed and the actual first costs associated with them were reasonable resulting in only a small uptick in sewer rates. I can remember that at the time a person's sewer bill would be about 1/2 of their water bill. For example if your water usage bill was $20 then a $10 sewer bill would be added to it.
Then as politicians are want to do they saw ways to use the issue to both line their pockets and inflate their egos. Before long they were taking kickbacks from developers to build new sewer lines on undeveloped land which the developers were eyeing for future development. Even worse they were refinancing the bonds every year or two - each time adding hundreds of millions in new attorney fees, finance fees, etc. and taking large kickbacks from the law firms and banks. Well, each refinance got larger and more complicated (dirivatives, higher interest rates and so on). I've read some estimates that say 75% or more of the total due now is simply from all the fees associated with all those refinances and have nothing to do with actual improvements on the sewer system.
A number of the commisioners are either now in prison or have been there, but the destruction is already done. To give you what it is costing folks now my mother's average water bill is about $20 to $25 a month, her sewer bill added to that each month is over $100 a month. I know couples with a couple of kids paying over $200 a month total water and sewer bill. The current County Commision insists that at least a further 80% increase is needed to pay the bonds. That will put a lot of familys paying in the area of $400 a month in water and sewer bills.
Strickly speaking from a personal view point, it has actually helped the value of my home. When I bought this one 10 years ago I looked for a place with a septic tank. Because I'm not on the sewer system our water bill runs about $30 to $35 a month and I have no sewer system charges. The county is making it just about impossible to get a permit to build with a septic tank now because they want everyone to pay the sewer charges, so those existing homes with the septic tanks have added value. The septic tank now has taken the place of the high end kitchen or other luxery add on ons to a house.
You mention to someone that you're home has a septic take and you can see the lust in their eyes.