Figures don't lie, but liars do figure. -- Mark Twain.
I am not accusing letter writer and Belleville treasurer candidate Kent McCoy of lying, but he has picked from many facts to convey a false impression that Belleville "must pay interest at 9.25 percent to sell bonds." This is patently untrue. As a CPA McCoy should know this.
The 9.25 percent is on only one TIF development bond, which is paid back solely by revenue generated at the specific location. The rates for all other bonds range from 1 percent to 5.25 percent, with the average rating being less than 4 percent.
Belleville's Standard & Poor's rating is A+.
McCoy's statement that the police and firefighters' pension actuarial liabilities are only 54 percent and 45 percent paid for, respectively, is correct. But as Paul Harvey used to say, there is a rest of the story. The underfunding is statewide and did not come about through inaction by the current administration. From 1997 forward, Belleville has levied the amount acturarial determined by the state.
Look at the record instead of listening to the verbage. As the principal of Belleville West for 24 years, I came to know that the best indicator of what an individual (or group) will do is his/her past record. I suggest a visit to St. Clair County's homepage, www.co.st-clair.il.us; scroll to "court records search" at the bottom of the page and view "case histories."