Post Reply 
Thread Rating:
  • 0 Votes - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
New Book: Public Private Relationships and teh New Owners of the Means of Production
08-10-2016, 11:35 AM
Post: #21
New Book: Public Private Relationships and the New Owners of the Means of Production
Quote from the Sunlight Foundation's research:

Dark money poses special dangers at the state and local levels. We examined dozens of instances where dark money in a state or local contest was linked, usually through shoe-leather reporting or official investigation, to a specific special interest. Tree key trends emerged: (1) At these levels, dark money sources often harbor a narrow, direct economic interest in the contest’s outcome; (2) relatedly, contentious ballot measures that carry major economic consequences frequently attract dark money; and (3) in the relatively low-cost elections at these levels, it is easy for dark money to dominate with unaccountable messages that voters cannot meaningfully evaluate.

Note how the Kenebec Region Development Authority fits especially #1 and #3. Clearly the interests of the KDDA corporation are served at the expense of the inhabitants of the municipalities, whose property taxes will escalate along with the increased budget that the board of the KRDA corproation alots to itself knowing that the municipalities are statutorily obligated to cover the KRDA corproations' debts. This is fascism - pure and simple! The Legislature even dictated how the question would be worded on the ballot to ensue that practically no information was provided- Don't bother to read the small print (it's been ommitted from your view anyway) just sign on the dotted line:

the Following is quoted from Public Private Relationships and the New Owners of the Means of Production:

A region of municipalities has been made into a corporation by the Maine Legislature. The statute for the KRDA corporation makes the region of Maine municipalities responsible for capitalizing the corporation’s debt and grants the KRDA corporation authority to tax the municipalities.

As noted by the law firm of Eaton and Peabody, an examination of the language used in the statutes shows that the legislature knows when to be specific in the interests of the corporation. The authority incurring debt is referred to as “the authority”, “votes of the authority” or “general assembly” (of the authority) which is identified in the statue chartering the KRDA corporation as the KRDA corporation:

Quote:Sec. 1. Kennebec Regional Development Authority established; incorporation; purposes. The territory, cities, towns and plantations that on the effective date of this Act comprise the so-called Kennebec Valley Economic Development District, or any combination of such cities, towns and plantations, constitute a body politic and corporate to be known as the Kennebec Regional Development Authority, referred to in this Act as the "authority," for the benefit and welfare of the inhabitants thereof and to:

The amount of debt that the authority occurs is left to its own discretion. When it comes to identifying the parties responsible for the debt that the authority incurs, that too is defined in specific language- it is the responsibility of member cities, towns and plantations.:

Quote:Sec. 10. Annual reports and budget; levy of taxes …...The amount over the estimated income of the authority that is required to meet the expenses in the approved budget and the sums included in any budget for the payment of interest on or the principal of notes or bonds or other obligations of the authority are the obligation of the member cities, towns and plantations …..
To the extent that the general assembly may decide that the authority cannot operate within its projected revenues for the current fiscal year, the general assembly shall determine what sum of money should be raised by taxation for:
1. Payment of principal payable in that year on outstanding bonds or notes or other obligations of the authority;
2. Payment of interest on the indebtedness incurred or assumed by the authority; and
3. Other specified expenses of the authority.

The municipalities are said to be participating in “revenue sharing”, an optimistic description of a system which holds the municipalities responsible for the debt incurred by the general assembly (the KRDA corporation) entirely at its own discretion. Translated into private sector terms risk and revenue sharing would make the municipalities stockholders in the corporation but private sector stockholders have the option of selling their stock at their own discretion. The terms of the agreement between the municipalities and the KRDA corporation binds the towns to an obligation to cover operational costs of the corporation. A municipality is obligated to pay the corporate debt even if it withdraws from the corporation: Note that in the terms below the language identifying the debt for which the municipalities remain responsible upon withdrawal is ambiguous. When a municipality joins it is responsible for all future authority budgets and any indebtedness. If a municipality should with draw it continues to be legally obligated on any outstanding indebtedness.

Quote:Sec. 13. Other cities, towns and plantations may join; procedure for withdrawing from the authority city, town or plantation joining the authority pursuant to this section is legally obligated for its pro rata share of the operational part of all future authority budgets and any indebtedness of the authority incurred pursuant to sections 4, 8 and 10 of this Act after the city, town or plantation becomes a member of the authority. A city, town or plantation that is already a member of the authority may vote to withdraw its membership; however, it continues to be legally obligated on any outstanding indebtedness of the authority until such time as all of the indebtedness is paid in full. The withdrawal only becomes effective on the date that marks the end of a fiscal year of the authority that is preceded by a full fiscal year in which the income was at least sufficient to pay the indebtedness and expenses of the authority for that fiscal year. (emphasis mine)

The terms decree the withdrawing municipality is responsible for any outstanding indebtedness and that withdrawal only becomes effective at the end of the fiscal year in which income was sufficient to pay for indebtedness and expenses for the fiscal year. There is no language that says that outstanding indebtedness refers only to the amount owed at the time the municipality decides to withdraw and so indebtedness can conceivably continue to increase year after year and the municipality cannot get out of its statutory mandate of indebtedness. The towns have been reduced to indentured servants of the KDRA corporation- by the Maine Legislature. The legislative terms of agreement are written in the interests of the KRDA corporation and to the detriment of the municipalities. No wonder the Legislature limited what can be included in the public referendum question to the following:

Do you favor issuing bonds or notes of the Kennebec Regional Development Authority in the amount of $, bearing interest not to exceed per cent for the purpose of procuring funds for the following purposes, viz.: (Insert brief description of purpose for which bonds are to be sold)?
If in favor of the bond issue, so indicate on this ballot.
If opposed to the bond issue, so indicate on this ballot."

Municipal taxes are normally used to finance municipal services used by property owners. A property tax is levied to pay for those services needed by the municipality. All KRDA towns must come up with funds to finance an economic development corporation located in the town of Oakland. Municipal Home Rule provides that the inhabitants of a municipality may elect to finance industrial development within the geographical boundaries of the municipality through bonds approved by a public referendum. Under Municipal Home Rule investment in industrial development in the town of Oakland would be decided by the inhabitants of Oakland who would also be responsible for the costs. The other municipalities would not be responsible for financing industrial development in the municipality of Oakland.

Quote:Municipal Home Rule.
Section 2. Construction of buildings for industrial use. For the purposes of fostering, encouraging and assisting the physical location, settlement and resettlement of industrial and manufacturing enterprises within the physical boundaries of any municipality, the registered voters of that municipality may, by majority vote, authorize the issuance of notes or bonds in the name of the municipality for the purpose of purchasing land and interests therein or constructing buildings for industrial use, to be leased or sold by the municipality to any responsible industrial firm or corporation.
Visit this user's website Find all posts by this user
Quote this message in a reply
Post Reply 

Forum Jump:

User(s) browsing this thread: 1 Guest(s)

Contact Us | My Site | Return to Top | Return to Content | Lite (Archive) Mode | RSS Syndication