Beware of tax increases and pension funds

Juanita Sumner  |  May 15, 2019

Letter to the editor by Juanita Sumner, includes “Promising again to keep the money from going to the pension deficit, Steinberg proposes to “securitize” $25 million of annual Measure U revenue to create a capital equity fund. That fund would finance the sale of bonds, to be repaid by Measure U receipts over a 25-year period. So, half the sales tax revenue would go toward creating more debt. … Subsequently, council approved up to $60,000 from the general fund to pay a consultant to talk us into this scam. Don’t fall for it.”

Read the full article on: Enterprise-Record (California)

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