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Spend the Rentech money wisely
Published Sunday, July 6, 2008
While it’s not exactly the equivalent of winning the Powerball Lottery, Adams County has certainly found itself in a unique position — it’s got money in the bank.
Last week after a complicated land deal between the county, would-be coal-to-liquids fuel company, Rentech Inc. and International Paper, Adams County deposited approximately $3 million in cold cash.
Combine that with anticipated increases in taxes from growing oil and gas development and the county is looking pretty cash flush in the days ahead.
And, like that man who wins the lottery, almost everyone has an opinion of how best to spend the money.
Some people have an urge to figure out a way to give the money back to the taxpayers. While that may be politically popular, doing that may not be the best use of the funds. Like the lottery winner, this money isn’t endless; it is mostly a fixed amount.
So spending it on something like a temporary tax rebate is only going to help in the short-run. A year or two later and we’ll have little to show for it.
We don’t need to spend our winnings; we need to invest them. We hope our county leaders will consider all options publicly and let the taxpayers have a say in how the money should be invested.
Adams County could benefit from wise investment of the funds in a number of ways. From making a substantial investment — perhaps along with the City of Natchez — in recreation to truly developing an industrial park, the potential is limitless.
A truly amazing thing for the county to do would be to set aside some funds for an independent study of city-county consolidation.
Why not learn what consolidation might really look like for the growth of our city and county?
Getting that accomplished may wind up being the equivalent of winning the lottery and the “winnings” could be felt for generations.
Comments
Posted by EnKiKur (anonymous) on July 6, 2008 at 12:27 a.m. (Suggest removal)
The county is taking out a 3 million dollar loan, yet getting this 3 million from Rentech makes the county flush with cash? 3-3= a flush bank account?
IP sold the land to Adams County just so Adams County could make 3 million that IP could have made? Out of the goodness of IP's heart?
All this really does defy understanding Kevin. I may have to quit reading the Democrat, it is beginning to be disturbing to me.
Posted by NatchezEnema (anonymous) on July 6, 2008 at 2:30 a.m. (Suggest removal)
Asking these guys to spend money wisely is like asking a person who just crossed a desert on foot to drink water slowly. Pie in the sky. They are already spending or planning to spend money off of new casinos that haven't even opened up yet. You don't count your chickens before they hatch. Lets all watch and see what happens.
Posted by rushinghjr (anonymous) on July 6, 2008 at 3:21 p.m. (Suggest removal)
?
Posted by destiny (anonymous) on July 6, 2008 at 8:41 p.m. (Suggest removal)
WELL...... what can one say?????? I almost fell outta my chair when I read the remark about giving the tax payers a rebate?????? Funny, real funny. Well, editoral Board of Natchdz Democrat, gonna have to hand it to you, You got a lotta grit. Hasn't the Natchez leaders informed you of their sleepless nights, lying awake wondering how to tax us more???????....Tax payers rebate??? So funnnnny!!!!....Letting the tax payers offer suggestions?????... Can you hear the laughter, b/c that's even funnier!!!!.........N.D. you sure win an award for this editorial. Nice try anyway.
So glad I tuned in today, best and biggest laugh I've had in a long time. Thanks !!!!!........
Posted by Krogers (anonymous) on July 7, 2008 at 9:16 a.m. (Suggest removal)
Investment would be good, but first pay off debt. Yes, reduced taxes would be good. Start with lower car tags , and property tax, please.
Posted by sammohon (anonymous) on July 7, 2008 at 10:36 p.m. (Suggest removal)
Krogers...in this case EnK is right...3M loan plus interest less 3M revenue=debt still owed in interest...not a flush bank account...payment of the debt must be first to avoid additional interest...government did what it should have, enabled an industry to get a foothold in Adams County, now it's up to Rentech to succeed while Adams County pays it's bills including interest. Rebates are out of the question.
Posted by Krogers (anonymous) on July 9, 2008 at 10:19 a.m. (Suggest removal)
makes sense to me Sam and EKK
and now that land is back on the tax rolls
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