You are probably getting tons of mail telling you how high your MSD bill will be if Prop. Y fails.
Yet, Voting NO on Prop. Y means huge savings in the long run. Voting NO on Prop. Y means saving nearly $1 Billion!
How can that be you ask? Well, Voting NO means saving the interest owed on the bonds.
Even more, Voting NO on Prop. Y could mean paying the entire $4 BILLION that MSD needs with out paying a single dime in interest payments!
When MSD issues bonds, it generally pays $1 in interest for every $1 it borrows.
If the bonds approved for in Prop Y equal $945 million that mean $945 in interest!
Voting NO means your rates stay in the mid-$60s, but with the bonds your rate goes into the $80s by late 2010s/early 2020.
This is not complicated: the rates are going up. You either will pay double because of interest, or you can vote NO, and pay for "it" once.
What can you do?
Vote NO on Tuesday.
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