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Trust fund still on Palestine’s back burner

October 16, 2013

EAST PALESTINE — The village has borrowed upwards of $2.46 million from its electric trust fund over the years and still owes upwards of $1....

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Oct-16-13 10:19 AM

fight clubs, tattoo shops, riding arenas, and an all year round concession stand - no thats growth!! how many people do those employ? umm 1 or 2 employees - and that is the people who own them. get real - get growth and pay back your loan!! i think i will go into my boss today and say i want a loan and will pay it back when ever i fell like!! ok thats really going to fly!! ELECTION DAY, ELECTION DAY, ELECTION DAY!!!

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Oct-16-13 8:24 AM

Then they need to go back and fry Clark's butt! The moron ran this place into the gutter, and then wants to be paid for doing it! Unreal!

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Oct-16-13 8:22 AM

The village is a laughing stock, a joke...all these little mom and pop businesses are not going to produce real income for families. But keep pushing the village in a downward spiral....and keep fixating on a flippin concession stand idea that is preposterous! Voters need to weed this town out, start fresh and pray for a miracle...

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Oct-16-13 8:17 AM

"I will gladly pay you Tuesday for a hamburger today".

Try calling the bank and tell them you are deferring payment on your loan. In fact, call the tax office and tell them you are deferring payment of you real estate taxes. The folks were warned that this would never be paid back when the city "borrowed" this money. Now instead of making interest on it, it is gone, and like the feds, no attempt will be made to pay it back. This comes from spending money you don't have. It doesn't matter if the projects were worthwhile or not, that's not the point. Government should not be allowed to borrow money from anyone. Live within your means. Sooner rather than latter, the village will have to default and leasing a concession stand won't cover the loss.

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Oct-16-13 7:52 AM

The current council is in a tough spot on this fund issue. No one currently on council was there when these deferrals started, and no one currently on council has ever authorized taking money from the trust fund. The problem is, of course, there is no money available to pay back the $1.97 million owed. There isn't enough even to pay interest on that amount. Figley saying he won't vote to defer the payment is just posturing, a show for the public. It sounds good, makes him look good maybe, but he knows there is no money to make the payments, so it's never going to happen. It's easy to say things like that when you know you will never be called on it, but it's irresponsible because it does nothing to help solve the problem. Someone should ask him where he thinks the money would come from to make the payments.

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