To the editor:
The Journal’s Saturday and Sunday, Nov. 25 and 26 issues featured a front-page article about the $14 million the City Council approved for capital improvements at its recent meeting. I’m not writing this article to argue the merits of the project. Whether it’s business or government, capital investment is always necessary. There are various ways these projects are financed. The author of the article does a good job of explaining the location and cost of the project.
The last sentence of the second paragraph is an exception.I quote “With these two funding sources, there will be no economic impact to the people of New Ulm.” The funding source mentioned was $11 million “Already accounted for”, the rest is from future bonds. In either case, these capital expenditures certainly have an economic impact on the citizens of New Ulm. Perhaps this is the new mathematics being taught in our schools? Are the bonds and funds already in the city’s coffers somehow free money to spend? Free lunches do not exist unless these funds come from subsidies from the federal Treasury or other sources (which ultimately have an economic impact on everyone’s finances). Maybe I could have phrased the sentence more appropriately.
Otherwise, I would probably stop by your local bank for funding that won’t have a financial impact on your bottom line. I can’t wait to hear what the loan officer has to say about this. I have a few projects in mind….
paul platz
lafayette