HomeMy WebLinkAboutC.054.93011_1330over budget, that brings a total price tag of $280 million. It's probably more like $400 million, but
we'll say $280 million, and the federal government will throw in $75 million. If you could get 30 -
year financing on it, that would mean you would increase the property tax rate on the citizens of
Iredell County -- 143,000 of them -- by 62% to pay the debt service and operational cost in the first
year of operation so that 125 people a day -- their numbers, not ours -- from Iredell County could
ride the train to Charlotte. Now, the professor from NC State did a study, and initially, he said that
if you took the original estimated ridership (to Charlotte) that you could lease them a new
Chevrolet Suburban, or a Jaguar XJ6. Well, he was wrong. I did more figuring on this. You
could lease them a new Chevrolet Suburban and a Jaguar XJ6, and a new Chevrolet Corvette.
Personally, I'll take the Corvette. Every third day though, if I got tired of my Corvette, I could
either drive my Suburban or my XJ6. I won't demonstrate such a level of magnanimity that I will
say, `I told you so,' but in the words of Toby Keith, `How do you like me now'? Thank you."
Commissioner Robertson said, "We were called shortsighted" He said the entities that
had signed on with the light rail project couldn't back out now, and as the federal and state
governments backed out, the people involved in the project would have to pay. Mr. Robertson said
the board had been wise with the taxpayers' dollars in dealing with the CATS project.
COUNTY MANAGER'S REPORT: Mr. Mashburn said Pam Campbell, the Red Cross
Director, had submitted her resignation, and a farewell celebration would be held October 10.
Mashburn requested permission to obtain a plaque honoring Campbell for her services.
OTIO by Chairman Tice to allow the county manager to obtain an appreciation plaque
for Campbell as requested.
VOTING: Ayes — 5; Nays — 0.
ADJOURNMENT: Chairman Tice at 7:35 p.m., made a Etig to adjourn the meeting.
(NEXT MEETING: Tuesday, October 17, 2006, at 5 & 7 PM in the Iredell County Government
Center, 200 South Center Street, Statesville, NC.
VOTING: Ayes — 5; Nays — 0.
Approval: Z o0
Clerk to the Board
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