• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
  • Pickem Terms and Conditions
Sunday, January 29, 2023
The Platte County Landmark Newspaper
  • Home
  • Local News
  • Opinion
  • Landmark Pickem!
    • Weekly Pickem Updates
    • Results by Week
    • The Leaderboard
    • Pickem Rules and Help
  • Landmark Live!
  • Looking Backward
  • es_MXSpanish
  • Home
  • Local News
  • Opinion
  • Landmark Pickem!
    • Weekly Pickem Updates
    • Results by Week
    • The Leaderboard
    • Pickem Rules and Help
  • Landmark Live!
  • Looking Backward
  • es_MXSpanish
No Result
View All Result
The Platte County Landmark Newspaper
No Result
View All Result

Former commissioner rips current county commission for tanking bond rating

Landmark Staff by Landmark Staff
December 12, 2018
in Platte County
7
SHARES
165
VIEWS
Share on FacebookShare on TwitterShare via Email

(EDITOR’S NOTE: The following article is reprinted from the Weston Chronicle with permission. It ran in the Dec. 5, 2018 issue of the Chronicle under the headline “No bond payment made by Platte County”)

‘I assumed these guys were business people’

T​he Dec. 1 deadline for making good on a payment for bonds that financed the parking garages owned by Platte County at Zona Rosa came and went without a payment from Platte County.

RelatedNews

Are you up for Immersive Yoga?

Let the gourd times roll

Gibson awarded as best
assistant prosecutor in state

“I have not been authorized or instructed to make any payments,” said county treasurer Rob Willard. “The courts are dealing with it now. I believe there was a good faith effort to address this.”

On Nov. 30, 2018, Judge James Van Amburg, presiding judge of the circuit court of Platte County, denied a motion filed by UMB Bank, the trustee for the Zona Rosa bonds, seeking an injunction to require Platte County, Missouri to pay the 2018 shortfalls on the Zona Rosa bonds.

Platte County is continuing to pursue its declaratory judgment action filed Nov. 2, 2018. Todd Graves, attorney for the county in this matter, said two weeks ago that they hoped to have an expedited hearing before the end of the year. Instead, Judge Van Amburg set a bench trial for May 24, 2019.

From a bond holder’s perspective, Platte County has defaulted on a promise to pay the bonds if there are not enough sales taxes collected by the Transportation Development District for that purpose. The amount due on Dec. 1 was $1,409,750.

The trustee for the bonds had received less than $400,000 in July and August. There has been no update on the amount sent to the trustee.

On Tuesday, former Second District Platte County Commissioner Steve Wegner talked about how he, Betty Knight and Michael Short tried to protect the county’s credit rating while they were commissioners. He was defeated in a reelection campaign 14 years ago.

“I assumed these guys were business people,” he said of the present commissioners.

“If you need to build something, you want to borrow and pay the least amount of interest you can.

“They are so ideological about government and taxes being evil,” he continued. “I always felt taxes were for the betterment of the county and the people.

“They have embarrassed the (Republican) party.”

He noted that the commissioners have talked about an expansion of the county jail.

“Defaulting on this is a misuse of taxpayer money,” he said. “There is no way they’ll get a loan at a good interest rate, if they can even sell the bonds.”

He said the Zona Rosa project had primed the pump for Platte County. “It enhanced the financial condition of the county,” he said. “Before it went in, we had more sales tax going out of the county than coming in.”

He added that Platte County receives not only sales taxes from the development but property taxes as well.

As a contrast, Clay County recently received word that Moody’s Investor Services upgraded the County’s Issuer Credit Rating (ICR) to AA1 in October.

Moody’s has monitored trends and county financial management over the past four years and this is the result. According to Commissioner Luann Ridgeway, only one other first class county in Missouri has Aa1 (Boone County); one fire district, five school districts; five cities; one library district and one community college.

Tags: platte countytaxeswestonzona rosa
Landmark Staff

Landmark Staff

Related Posts

45 Years Ago–January 27, 1978

by Ivan Foley
January 27, 2023
0

Miss Grace Ann McLain and Clifford Northern were united in marriage by the Rev. Lester Weeks at the First Christian Church in Platte City on Saturday evening, Jan. 21. The parents of the couple are Mr. and Mrs. Charles McLain...

30 Years Ago–January 23, 1993

by Ivan Foley
January 27, 2023
0

A preliminary budget calling for $7.9 million in general fund expenditures has been presented by Bob Griffith, county auditor and budget officer. General fund revenues for 1993 are expected to be the same as expenditures, $7.9 million. Last years budget...

15 Years Ago–January 23, 2008

by Ivan Foley
January 27, 2023
0

The Landmark exclusively can report a motion to terminate the employment of Keith Moody, longtime city administrator, was approved by a majority of the Platte City Board of Aldermen Tuesday night. The decision to fire Moody was made on a...

Rapid fire

Rapid fire

by Chris Kamler
January 27, 2023
0

Apparently, I've been working too hard because all I've done in two days of vacation have slept. Also, mediocrity is rewarded. My proof? Carl Cheffers has been named the head referee for the Super Bowl. I guess if you throw...

Next Post

When it comes to jail population, maybe it's time to focus on 'why'

Popular News

  • East side Hwy. 92 will become four-lane stretch

    East side Hwy. 92 will become four-lane stretch

    17 shares
    Share 7 Tweet 4
  • Lawsuit claims toxic heavy metals in herbs and spices

    21 shares
    Share 8 Tweet 5
  • Southbound U.S. 169 to close for bridge project

    10 shares
    Share 4 Tweet 3
  • County getting ready to rearrange some chairs

    7 shares
    Share 3 Tweet 2
  • Nation’s oldest polar bear dies at KC Zoo

    6 shares
    Share 2 Tweet 2
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
  • Pickem Terms and Conditions
Call us at 816-858-0363

Copyright © 2019-2020 The Platte County Landmark Newspaper - All Rights Reserved

No Result
View All Result
  • Subscribe Online
  • Home
  • Local News
  • Opinion
  • Landmark Pickem
    • Login / Sign-up
    • Results by Week
    • The Leaderboard
    • Pickem Rules and Help
  • Landmark Live!
  • Looking Backward
  • es_MXSpanish

Copyright © 2019-2020 The Platte County Landmark Newspaper - All Rights Reserved