There are three outstanding Bonds that were issued since 2004 to pay for Ocean Center Facilities.

The Amount Borrowed was 88 million but the real  costs are outlined in the data below.

Total Repayment costs will exceed 164 million.  That figure represents the Cost of Money under the current policies of  the council.

What is not reflected is the opportunity costs and  long term impact on the community.

The tax implications alone are astounding.

On one Bond issued in 2004 , $99 out of  $100 collected from the Tourist Development Taxes are going to Wall Street  Bankers. 1% stays in the Community.

We have been burdened by 12 million in taxes while the principle has been reduced by a mere 95 k.

These policies and practices by the County Commission will ruin us for decades to come. These elected officials live in  a two or four year election cycles. As they float the Idea of another one cent sales tax  increase to "pay for roads" we should consider the above information.

If we give them a revenue stream of 8 million per  year by passing the one cent increase they will simply Borrow another 60 million  and send the tax revenues out of the community like they are currently doing  with the Tourist development taxes.

Lets say "no" to another increase in Millage or local option sales tax increase. Help stop this spending and join us, sign up for our e-mail blasts, join the budget study group or run for office.