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When asked where corruption can be found, Warren Buffet responded, “anywhere there is money.”
I sincerely hope a knowledgable source will refute this article because I do not want to believe that it is true.
Colorado state law requires that voters approve through a local referendum any new debt acquired by a local school board (1992 amendment. Article X, section 20).
However, our local school board borrowed (thereby placing a lien on every piece of real estate in the district) $1.5 million dollars and gave a no bid contract to Honeywell for energy reducing improvements to the school buildings with a 10-year-plus payback (not a good deal by any measure). It has been reported that by calling the payment a lease that the state law does not apply. A case of fundamental deception and financial mismanagement.
The big winners — Honeywell and the bank. Big losers — local taxpayers.
© 2012, ↑ The Pagosa Springs SUN