On Monday, November 16, the Newburgh City Council held a special meeting that included a public hearing regarding two bond resolutions. As reported elsewhere, those bond resolutions were passed after a heated discussion between the council, bond advisers, and the public. Also under discussion was whether to enact a financial advisory board; in the end language was added to the resolutions to create one. “It’s not clear where all the money is going,” Ken Bond, Newburgh’s bond counsel, said. Thus, he explained, having such a financial advisory board would reassure potential investors that there would be oversight.
The description of Presentation b. on the work session agenda Thursday night was deceptively short:
(Res. 172-2009) Route 9W Reconstruction:
BAN and RAN – Ken Bond, Esq., Squire Sanders and Dempsey
There was no hint that this agenda item actually included three resolutions, two involving bonds and the third involving the creation of an advisory board, and that Interim City Manager Richard Herbek had hoped to pass all three at the regular city council meeting to be held Monday, November 9th – sans public hearing. The discussion on these resolutions stretched to over an hour.
Quotable Quotes
All you can do is apologize. – Corporation Counsel Michelle Kelson, on how Newburgh got into its financial mess.
I have seen absolutely no will to start living within our means… All I see is just more of the same, we credit card our way out. – Councilwoman Christine Bello, on passing more bonds to reduce the tax increase from 82% to 35%.
Have you discussed furloughs? – Councilman elect Curlie Dillard, who sat at the council table during the entire work session.
There is no way I can go to my constituents and say, “we need another 35%.” – Councilwoman Marge Bell.
If you had a control board [by the state taking over], I don’t think it’s a measurably better story for you folks. – Jeffrey Hyman, Stone and Youngberg (Newburgh’s bond underwriter.)
I sat with him [Ken Bond] on the control board [Mr. Valentine means Newburgh's financial advisory board] in the 90s. – Mayor Nick Valentine.
Listen to the full discussion (approx. 1 hour 10 minutes) here:
“This is going to be very very difficult without a public hearing,” Mayor Valentine acquiesced, and it was decided to have a public hearing at the council meeting on November 16th, and at that same meeting a vote would be taken.
On Monday, November 9th, expect to see during the regular city council meeting a resolution scheduling the public hearing.
