State construction is a vicious cycle
Eventually, the buildings become uninhabitable and must be torn down or merely abandoned. This is nothing new. It’s been going on since John McKeithen was the governor in the 1960s.
It has been reported that higher education facilities across the state are in desperate need of extensive maintenance and repairs.
During the 2013 Lege Session, the leges’ answer to the maintenance problem in higher ed – borrow $250 million to build brand-new facilities for the community and technical colleges around the state.
Of course, there will be no maintenance money for these new buildings so before the bonds are paid off, the buildings will be abandoned.
In authorizing the new buildings, the leges busted the state debt "ceiling" by $250 million. That will cost the taxpayers an additional $22 million annually in recurring revenues that cannot be used for higher education and other state operating needs.
The debt service for future capital expenditures will become more expensive because of the breach of the debt "ceiling" thus it will be more expensive to maintain existing facilities.
As a result the existing facilities will have to be abandoned and even more money will have to be borrowed to build new facilities and, once again, the debt "ceiling" will be breached.
This is the equivalent of us not wanting to spend money to repair a leaky roof on our home and eventually having to renovate the entire house, abandon it or tear it down.
What the leges are doing is not only a vicious cycle, but it is fiscally-irresponsible.
Anthony “Pooka” Williams followed up on his breakout sophomore campaign with an...
With four residential development projects in the works, the housing market is...
Renaming Preston Hollow Road after gospel singer Rowena Smith isn’t only a...
When Loialty Adonis Grover arrived on Dec. 6, his mother was stunned to learn he...
Time was running out for Destrehan to come back in its Allstate Sugar Bowl National...
Matt Grabert of Boutte called Saturday's experience the scariest thing he's ever...
Over 25 Years of Quality Sales, Service and Repairs on YAMAHA, MERCURY, EVINRUDE and JOHNSON Motors.
Levees, inventory tax top parish funding concerns - 1116 views
As President-elect Donald Trump closes in on his official inauguration, former U.S. Rep. Billy Tauzin believes Trump’s ascension to the Oval Office has the potential to be beneficial for both St. Charles Parish and the state, noting there should be plenty of opportunity to get things done in the coming years.