Magazzu suggests another authority to expand his power

Louis is suggesting yet another authority, one that would issue bond (read: debt).

A new Cumberland County authority with the ability to issue bonds may be needed to advance the area’s economic agenda, Freeholder Director Louis Magazzu said.

We assume that Lou would have control over the political appointees to this authority. It would be another puppet under his control to divy out money to his supporters while holding funding from political opponents.

Magazzu said the Improvement Authority rarely does economic projects. He called it a source of frustration.

Could that be because the CCIA is in the business of running a landfill, and is not a bank? The CCIA does give out grants and loans to enterprises that help further its mission.

The loan, grant and bonding capacity of the Cumberland Empowerment Zone has papered over the problem in the past, he said.

veight health dept reportAndLou criticizes the UEZ – didn’t he appoint those people too? Rather than fix the mechanism that is already in place to perform the task, Lou proposes to create yet another bureaucracy filled with his loyalists. Perhaps he will reward another slumlord such as Joe Veight, who rarely attends the meetings at the CCIA. Or perhaps another pothead such as Bridgeton Democratic Chair Todd Edwards, who missed almost every meeting as board member of the CCUA, but has not yet missed a paycheck or benefit.

To create an entity whose purpose is to create bonds is to encourage public debt. The organization would be compelled, even if it were subconsciously, to find reasons to create more situation to bond public money. While public bonds are often necessary, we should be looking to minimize public tax debt that will be a burden on future generations.

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8 Responses to Magazzu suggests another authority to expand his power

  1. Sheena Santiago says:

    “To create an entity whose purpose is to create bonds is to encourage public debt”.

    I agree with this statement, but the creation of government funded programs thru bonds will enlarge the pockets of lawyers that will prepare the bonds. The best way to help the economy is to utilize the money that is available without adding more debt. At the end the taxpayers will pay more taxes.

    For the last 12 years the economy in our county has been going down. The freeholders need to develop a realistic plan to reduce welfare dependency.

  2. DUMP the Maggot says:

    oh contrare! the freeholders need to reduce the welfare dependency of lou magazzu.

  3. Deep Throat says:

    The CCIA tried for years to provide bonding for numerous private and public entities. The authority would be undermined by Magazzu. Whenever the CCIA had a project in the works, Magazzu would convince the principals to NOT use the CCIA. He would then, as now, complain publicly that the CCIA was failing to help the towns with bonding.
    Remember, his mouth is open.

  4. Rev. Higgs Boson says:

    More patronage jobs for more cronies making six figure salaries. And their sole purpose is to put Cumberland County deeper in debt.

    County government needs to be smaller, not larger.

  5. DUMP the Maggot says:

    But Rev, don’t you get it???? Lou is going to save us $32K with his choice for County Clerk. That should MORE than offset the 6 figure salaries in the new Authority, won’t it? Math was never my strong suit.

  6. Sell me a bridge says:

    This is funny! The Republicans say they want the taxpayers to be able to vote on bonds and Magazzu responds by saying he wants another authority with the ability to issue bonds.

    I’m starting to think he’s lost his mind.

  7. DUMP the Maggot says:

    STARTING to think he’s lost his mind???? First of all that presupposes that he even HAS a mind… but the reality is that if he does have a mind, he lost it a LONG time ago.

  8. Rev. Higgs Boson says:

    Yeah, why would you lowly taxpayers want a say on debt you will incur? Just shut up and pay more taxes!

    Proposing yet another authority to circumvent the citizens right to vote on taxes. Unbelieveable.

    Has anyone in government ever heard the phase,”Taxation without Representation”? NO? Didn’t think so.

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