It is not my intention to belabor a subject I have already addressed in a previous letter. That being, that I personally am opposed to the two November referendums that would allow the Kershaw County school board to borrow $130 million via bonds, and for the imposition of an additional “penny” sales and or use tax to finance it. Rather, I just want to present the subject from a different perspective, that may simplify or clarify it, or at least bring it a little closer to home and see how it might affect individuals.
Since plans are not complete, it is necessary to make a few reasonable assumptions. Assuming the bonds are issued for a period of 10 years and can be sold for a rate no greater than 2 percent, we can use the raw data and come to some conclusions. At 2 percent over a period of 10 years, $130 million indebtedness becomes $144 million. We know from the last official census our population was 61,697. Therefore, the debt would be approximately $2,333.98 for each man, woman or child in the county. Or, if you still want to talk about paying for it with “pennies,” that amounts to 233,398 pennies for each one. Now, if you want to go from the sublime to the ridiculous, that amounts to a half ton plus an additional 309 pounds of pennies owed by each citizen.
As I have said before, the school board works hard and I appreciate that effort and respect them for expending it. I do not envy their task. It’s just that I think these plans are too grandiose for a county that does not have the means to afford them.
I urge everyone to give serious consideration to these referendums before you vote, and by all means vote.