Fact: the rail will cost $1.4 billion or $147 million a mile. The $1.4 billion is for construction only. Operating costs will be $22.1 million. This amount is not on the ballot because it cannot be covered by bonds. This $1.4 billion is just the first phase. There will be phase 2 and phase 3; perhaps more. This $1.4 billion will double Austins general obligation debt affecting the new district council members ability to borrow any money for projects in their districts. Do we want to pass this debt to our children and grandchildren and their children?
Posted on: Fri, 22 Aug 2014 00:06:37 +0000
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