| Monterey County, CA | November 2, 2010 Election |
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Fiscal Sustainability of Pacific GroveBy Kenneth Edward "Ken Cuneo1" CuneoCandidate for Councilmember; City of Pacific Grove |
This information is provided by the candidate | |
On the present path, Pacific Grove will spend more than it can pay.The City of Pacific Grove like many cities in the state is experiencing severe financial problems that have caused a reduction of needed and expected services. Pacific Grove is in debt with four bonds totaling 21.4 Million Dollars. The four bonds are the new Golf Club; Sewer Bond; Butterfly Sanctuary Bond; and a Pension Bond. The latter is the largest and represents borrowing at the time of that bond to pay present obligations with future indebtedness. It was an unfortunate choice to make. As a city we need to tighten our belts and pay fair yet reasonable salaries and pensions; salaries and pensions that we can afford. The poor performance of the CALPERS system due to reckless investments and alleged improper management (currently being investigated) has severely hurt Pacific Grove as well. I believe that this present City Council will not "kick the can down the road". We fully intend to take these issues on and steer the City off the rocks ahead and into clear water. I will take all legal actions needed to keep our city fiscally sound. Will you join us ? Together we can do it! |
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Created from information supplied by the candidate: October 16, 2010 13:30
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