Dear Editor,
Why are so many small towns voting to use bonds to finance their community projects? [Putnam County] commissioners are putting bonds on the ballot and asking “We the People” to pay back these bonds in amounts from $33 million.
I thought it was strange that our county was put into this kind of debt, but then I found out it wasn’t just our county.
It is lots of counties across the USA. That is a lot of debt for Small-Town America.
So, who are the holders of these bonds?
Foreign governments are buying these bonds. Do we really want to owe so much money to foreign governments? What is the collateral for these bonds?
Let’s call them debt in the form of a loan — with interest, of course. If people are not able to pay these loans back, then we will have to increase taxes. You have three years to pay back all taxes and penalties on property.
The property is sold for a tax lien if you do not pay your taxes.
Let’s not sell out Small-Town America!
Judy Sanders, Eatonton