This is bad reporting! When Measure U was approved, the measure promised that tax increases that result from sale of bonds would be limited. When interest rates go up, the payments that the tax payers see on our property tax bills go up. As previous bonds are repaid, there is more room to sell bonds without increasing the tax burden. The Oakland City manager is keeping the promise to the voters by holding off on bond sales until they can be sold at a cost that does not further burden tax payers.
This is bad reporting! When Measure U was approved, the measure promised that tax increases that result from sale of bonds would be limited. When interest rates go up, the payments that the tax payers see on our property tax bills go up. As previous bonds are repaid, there is more room to sell bonds without increasing the tax burden. The Oakland City manager is keeping the promise to the voters by holding off on bond sales until they can be sold at a cost that does not further burden tax payers.
Please correct this poorly researched article.
What a big mess! This is why I will never vote for any tax increases ! Such incompetence!