as they see fit and to issue bonds to pay for them, putting
we the taxpayers on the hook.
If this bill passes, VLCIA could issue bonds for a private prison,
a biomass plant, a coal plant (apparently not a coincindence; see below),
a toll road, a private railroad,
or whatever it felt like.
It wouldn’t even need
cooperation by elected officials.
It wouldn’t have to go to the Lowndes County Commission for permission,
like
VLCIA did for $15 million in bonds to buy real estate.
The Industrial Authority could just issue the bonds itself!
And we the taxpayers who would have to pay for it?
We’ll just get to pay, that’s all.
There’s still time to stop it in the Georgia Senate.
Maybe HB 475 should be called the “Easy Jobs for Cronies Act”. It adds various definitions of public-private partnership, and then throws in a wild card: Continue reading