Saturday, October 24, 2009

The Consequences of a "NO" Vote on the Wishard Referendum

Take heart if you have been considering voting "NO" on the Wishard Referendum. Should the outcome be "NO", Health & Hospitals can continue forward and still build their new campus. The only thing that would change is that H&H would be banned from raising your property taxes to pay off the bonds. They have said all along that they can pay off the bonds with ongoing profits from Wishard. All they have to do is float revenue bonds. And, they could have floated revenue bonds without holding a referendum.

Hold them to their promise not to raise your property taxes. Vote "NO" on the Wishard question. You will not be forcing them to live with burst pipes. You will not be forcing them to live without a new campus. You will only be forcing them to be true to their word - that they will not use property taxes to repay the bonds they use to finance the project.


Downtown Indy said...

Gutwein is playing the odds. He is betting on that 'no tax' promise.

If the referendum passes, there's considerable upside for him as the bonds are a lower rate vs the revenue bonds he'd otherwise have to float.

With a YES vote he takes absolutely no risk. Taxpayers are the ones taking all the risk.

With a NO vote he takes the risk and taxpayers do not.

It's easy for him to make his 'promise' because he'll incur no penalty if he's wrong. It's a perfectly safe bet. For him.

Will taxpayers fall for his "Heads I win, tails you lose" scheme? I hope not.

Downtown Indy said...

IndyStar seems to have stepped up their pro-Wishard stance. I have posted in response (opposition) to their various editorials and 'guest posts' promoting the Wishard deal, and guess what? They now are all being hidden from view. My history is intact, but those posts and a couple more I tried to make are being kept hidden away somewhere in their server.

They must not like having anyone point out their 'vote yes so Wishard can build a new hospital' disinformation campaign is a lie. Ryerson has already come out publicly saying he doesn't like that word.

But what else IS it?