Concerned over Clare bond issue

October 11, 2013

Dear Mr. Wilcox:

As a former member of the Clare City Commission for 9 years, who served as Mayor for 6 years, I am very concerned about a proposal before the Clare City Commission which will result in a large “bond issue” borrowing to support the completion of a 60 acre industrial park on Colonville Road.

Multiple of thousands of dollars are needed, in addition to the EDA grant money, to complete this project and can only be achieved by borrowing and pledging the “full faith and credit of the City of Clare”.

Such a borrowing could result in using general fund tax dollars to assist in making the required payments in the bond issue.
I have attended 4 City Commission meetings in recent weeks and have personally spoken out re this proposed plan of funding at each visit.

There has intentionally been little information made available to the City of Clare taxpayers in this matter. This is a shame and needs to be corrected.

In my opinion your fine newspaper could go along way in correcting this lack of proper information and enlightening City of Clare taxpayers.

Commissioner Tom Koch has been steadfast in attempting to get proper information out to the public so they can be aware of the potential pitfalls in this planned project and planned financing.

Allen E. Demarest

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