Debt, issuing bonds, is the way projects get built in America. I don’t think many of
us would be happy living in a city that doesn’t issue bonds (debt) to build things.
Sports stadiums and arenas are all done by going into debt.
Even UH has pretty significant debt. Look at all the bonds that have been issued
for every major project on campus.
Public agencies getting into projects and then lose control of expenditures happens constantly. Incapable staffers are responsible for this. Then what do they do and what can they do? They have to find other ways to pay for these expenditures and…raise taxes. This is why California, Illinois and New York State are losing their inhabitants and move elsewhere.
Thank you again for proving my point.
What you just said is different than what NRG described. He’s not proving your point.
Debt can be used effectively. It can also be abused. That’s true for cities, schools, corporations, and individuals.
Every single muni water and wastewater plant ever was financed with debt. They’re designed to last 30 years plus so it makes sense. Otherwise you’d have to put a giant one time leavy on tax payers.
Yep, there is nothing wrong with debt if used well.
Yes, you just proved my point.
IF USED WELL
Here is a clear example.
As of April 2026, the estimated cost of the California high-speed rail project (connecting Los Angeles to San Francisco) has increased to approximately $126 billion. This represents a significant rise from the $33 billion originally estimated by voters in 2008
The train to nowhere is one example of a plethora of mismanaged public funding projects. I deal with public agencies every single day and have done so for 30 years. The public entities funding mismanagement is rampant and the ones comiting these mismanagements are rarely held accountable.
That hasn’t been your point. You seem to be changing it now. Good.
Everyone is now on the same page. Let’s get back to Corpus Christi.
You clearly are not following the posts. Yeah the Train to Nowhere is a hard one to defend…because it is indefensible. It is a minute example of countless public projects that have drained public finances due to incompetence.
I’ll add that our football stadium is a great example of fiscal responsability.
We got a stadium for one third of the price that it cost back then. Granted this is not the Taj Mahal but we got a tremendous value. In today’s construct costs our stadium would probably six times what it cost then. That is being fiscally responsible. One example…
Everyone else can decide who is and isn’t following the posts.
No reason to keep this going. Please don’t derail further.
You and others have threads that take “turns” and you know it. It happens.
Turns to argue something that everyone now seems to agree on doesn’t make sense.
No one is arguing that cities shouldn’t be fiscally responsible.
Pointing out the obvious…that some want to avoid.
Moving on.
Merged the threads and updated the topic since these were basically the same issue.
Anyone question Corpus Christi City Council’s incompetence?
Yeah, between Texana and Lake CC, it will be a while before they need those water wells they rushed to drill. Green lawns for everyone!
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