Answer to the Unconstitutional Actions of the City of Eureka – Pension Obligation Bond Validation
imagine the audacity of a city council,
a city manager and a city attorney,
willing to sue all the citizens of the city
and anyone else who has an interest
all in order to circumvent the Constitution of
the State of California
Because they know damn well that the citizens
will not approve this bullshit bond issue.
what they are trying to do is convince a judge and everyone else that short term obligations owed to CalPERS are “bonds” that can be refunded without voter approval as is required under the Constitution of the State of California. These are not bonds that are being refunded. This is fiction.
Refinancing short term obligations with long term bonds defines fiscal irresponsibility and is indicative of serious problems in the finances of the City of Eureka.
At the very least the voters of Eureka should be given the chance to vote on this bond issue.
They have said that they don’t want to vote because of the “cost to the taxpayers” of an election. Yet, they are going to pay some Wall St. parasites almost $500,000 in fees to float this bullshit bond issue.
They are lying to you.
pdf of the answer:
I am not a lawyer. I will do the best I can.
have a peaceful day,