Council needs to hear from residents on aquatic center
The true cost of $90 million for the proposed aquatic center, claimed by letter to the editor writer Fred Dexter is very inaccurate. The real cost might be more than $100 million.
Dexter estimated an interest rate of 4.5 percent that Boulder City will need to pay for 30-year bonds for the base cost of $50 million that Roger Hall quoted at the latest public discussion. What Dexter and Hall did not say is that there are fixed costs related to the issuance of a bond, similar to points for home financing. Also, risk of default determines the interest rate.
Because an aquatic center cannot be repossessed in the event that Boulder City defaults on the loan, the interest rate is higher. A Boulder City default almost happened with the council-approved Boulder City golf course, and investors will know this.
Boulder City should expect to pay at least 5.5 percent to finance a $50 million aquatic center. At 5.5 percent the total 30-year amount paid would be $102,202,020.
I live in Boulder City and Pahrump. Pahrump just received free land and a $5 million gift from Valley Electric for an aquatic center. Pahrump, with a population of 36,000, is proceeding cautiously with this new development design.
Much smaller Boulder City is rushing rapidly, it seems, to incur an enormous debt of over $100 million for an aquatic center.
Boulder City is not the U.S. government and cannot simply print money to pay its debts. A $100 million debt for an aquatic center should not be decided by the Boulder City Council. Dexter was correct asking that such a huge debt obligation should be presented for a referendum vote of approval. I agree, and I encourage everyone to speak to the Boulder City Council on this subject.
Karen Beyers
Editor’s note: City Finance Director Diane Pelletier estimated the $40 million cost, with interest, will be about $79 million.
Dog owners’ inconsideration appalling
As a golfer or at least one that plays at the game of golf for recreation, I am appalled at the inconsiderate use of our municipal golf course as a bathroom for dogs. Recently, I observed an off-leash dog leaving a “present” on a fairway and the owner not even carrying a deposit bag, much less using one.
I am hopeful that I will not hit a ball to or near that location. Dog owners along and near our golf courses please do not use these recreation facilities as dog parks. It is bad enough when children or adults step on a “present” in a park or paved or unpaved area, much less when golfers find a “present” stuck to their ball or shoe. Canine owners, please observe the leash laws and please be considerate of others.
Harold Begley
Actions to curtail harm on environment needed
Ray Eklund’s commentary on climate change seems to be correct that nature has determined what the Earth’s climate will be. But it does not take into consideration what the effect of the exponential growth of the human population is having on our climate.
We are the cause of the steady increase in carbon dioxide in our atmosphere. It correlates well with the rise of the industrial revolution, which uses more and more carbon (coal, oil and natural gas) for our world’s energy needs. At the same time, we keep cutting our world’s trees, which convert carbon dioxide back into oxygen and carbon.
So it is our actions that are causing climate change now in the Holocene. We must curtail our population growth and consumption of resources. If we do not, nature will do it for us and homo sapiens will become extinct, but the world will be better without us.
Douglas Haag