tag:blogger.com,1999:blog-4679367111526265280.post6377288488344796787..comments2023-10-17T08:48:44.310-07:00Comments on Hoosiers For Fair Taxation: Melyssa called to volunteer for Ballard's re-election campaignM Theoryhttp://www.blogger.com/profile/01892309818226431745noreply@blogger.comBlogger21125tag:blogger.com,1999:blog-4679367111526265280.post-80266273036571202842009-05-29T09:57:11.137-07:002009-05-29T09:57:11.137-07:00Where does this "arm of the city" nonsense come up...Where does this "arm of the city" nonsense come up? They are set up as a separate municipal entity. They can file bankrutpcy every bit as much as the Waterworks Board, the Airport Board, etc. The fact that they can't raise taxes or float boands on their own has nothing to do with whether they are eligibile for bankrtupcy.Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-14543288036863414522009-05-29T04:55:11.214-07:002009-05-29T04:55:11.214-07:00First, a determination would have to be made as to...First, a determination would have to be made as to whether the CIB is an arm of the City. If it is, then it would be doubtful as to whether bankruptcy would be an option; the bankruptcy court would not allow an arm of the City to have its debts discharged and contracts voided if the City itself is solvent. If the CIB is not an arm of the City but some sort of independent entity, then it probably could file for bankruptcy.<br /><br />The facts militate for the CIB being an arm of the City, though. Its members are appointed by the Mayor and CCC. It has no power to independently levy taxes or float bonds. On the flip side, the CIB can own property in its own name.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-84242611315909234692009-05-28T12:06:21.362-07:002009-05-28T12:06:21.362-07:00Flipper...Paul hasn't said he's going to run for m...Flipper...Paul hasn't said he's going to run for mayor...but I sure want him to do so!M Theoryhttps://www.blogger.com/profile/01892309818226431745noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-88354174027428018872009-05-27T18:03:06.164-07:002009-05-27T18:03:06.164-07:00Paul,
If rumors are true and your planning a run a...Paul,<br />If rumors are true and your planning a run against Ballard please sign me up as a volunteer in the early phases.<br /><br />Melyssa,<br />I think I still have the original volunteer list from the party at the firefighters union hall we had for Ballard on Dec 31st 2007 when 300 or so of us showed up and when he announced Newman <br />( what a pick ) as Public Safety Director.Flipperhttps://www.blogger.com/profile/14056457877965174996noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-86098816959839173872009-05-22T18:27:21.444-07:002009-05-22T18:27:21.444-07:00I agree Melyssa. Nobody else on the Council, Repu...I agree Melyssa. Nobody else on the Council, Republican or Democrat, had the courage to even ask questions about the CIB, except for Ed Coleman. That speaks volumes.Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-86316845717696797212009-05-22T18:25:37.092-07:002009-05-22T18:25:37.092-07:00Abdul,
You are wrong. There is no prohibition in...Abdul,<br /><br />You are wrong. There is no prohibition in state law on the CIB filing bankrutpcy. Chapter 9 of the Bankrutpcy Code, which is a federal law, however, probably requires that the CIB get a BK authorization from the legislature. That's not exactly a problem. The General Assembly almost certainly would authorize a BK filing upon request of the CIB and the Mayor's office.<br /><br />No, the CIB is not an "arm" of the City. It is established as a a separate entity by the Indiana General Assembly. The notion that a bankruptcy judge would not approve a CIB BK filing shows a lack of familiarity with how bankrutpcy works. There is no question that the CIB would qualify for a BK if they filed. Of all the questions raised by this option, the ability of the CIB to qualify for a bankrutpcy is not even remotely a close question considering its balance sheet.Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-33239985340002290722009-05-22T15:38:03.640-07:002009-05-22T15:38:03.640-07:00Anonymous and Inquiring mind...too cowardly to pos...Anonymous and Inquiring mind...too cowardly to post your name to your opinion? <br /><br />I'll have you know that by and large the tax activists (those people that worked to get Ballard elected)have a great deal of respect for Coleman because he's the only one with the kahunas to do what is right by The People and put us before party. <br /><br />You must be one of those party insiders that is just incensed that Coleman rocked the boat. <br /><br />Alas, we'll never know because you don't even have the courage to post under your own name. Ashamed of your opinion?M Theoryhttps://www.blogger.com/profile/01892309818226431745noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-62626481146876681312009-05-22T15:20:35.718-07:002009-05-22T15:20:35.718-07:00HFT, I got the same call and amazingly, my comment...HFT, I got the same call and amazingly, my comments were pretty much the same as yours. Right down to the we will work twice as hard to remove him.guidohttps://www.blogger.com/profile/12785606497607584335noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-81638854326638746272009-05-22T11:33:30.483-07:002009-05-22T11:33:30.483-07:00Melyssa,
You have got to be kidding me. Don't forg...Melyssa,<br />You have got to be kidding me. Don't forget our cook out on June 10th. Also, If you want to invite Paul it is fine with me.Flipperhttps://www.blogger.com/profile/14056457877965174996noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-29528708751085870482009-05-22T09:38:25.586-07:002009-05-22T09:38:25.586-07:00I would add, that you may not have to file bankrut...I would add, that you may not have to file bankrutpcy at all. Once the legislature gives the CIB the authority to file, you're going to see people like the Colts, Pacers and othrs have a whole new attitude about helping the CIB out BEFORE filing BK.Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-5975583820613925182009-05-22T08:39:27.115-07:002009-05-22T08:39:27.115-07:00Sean,
I doubt the CIB BK would affect the City's ...Sean,<br /><br />I doubt the CIB BK would affect the City's rating since they are separate entities, but I haven't talked to anyone who knew for sure either way.<br /><br />As far as Ballard's re-election effort, this would be news...as he has not declared. I think he would have trouble getting out of the GOP primary and has zero chance of winning a general election. And would you really want him for another term? I'm not sure he could be doing a worse job.Paul K. Ogdenhttps://www.blogger.com/profile/16137003328850866711noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-4656627208589502972009-05-22T07:11:05.117-07:002009-05-22T07:11:05.117-07:00Go bankrupt. Never mind the credit costs SINCE the...Go bankrupt. Never mind the credit costs SINCE the over use of credit has been THE problem. The citizens would be better off with a FFF credit rating BECAUSE then our elected idiots could only spend what they could steal from living taxpayers instead of from future ones. This advice, by the way, was early on imparted to our Governor along with the suggestion that he CLOSE the bond bank.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-70501828438090986992009-05-22T04:25:47.662-07:002009-05-22T04:25:47.662-07:00The CIB cannot file for bankruptcy. State law doe...The CIB cannot file for bankruptcy. State law does not allow it and Indiana lawmakers are not going to grant it.<br /><br />Plus, the CIB is an arm of the city of Indianapolis, so as long as there is tax revenue, no court would ever allow bankruptcy to go through.The Amazing Abdulhttps://www.blogger.com/profile/00532303914362984844noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-83090408706323919572009-05-21T21:44:56.002-07:002009-05-21T21:44:56.002-07:00Coleman is a joke. The Mayor is smart to distance ...Coleman is a joke. The Mayor is smart to distance himself from that goober.InquiringMindhttps://www.blogger.com/profile/07827868183367430629noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-5403897002776150662009-05-21T21:43:59.987-07:002009-05-21T21:43:59.987-07:00Coleman is a joke. The Mayor is smart to distance ...Coleman is a joke. The Mayor is smart to distance himself from that goober.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-41287559033372233222009-05-21T21:42:53.930-07:002009-05-21T21:42:53.930-07:00Coleman is a joke. The Mayor is smart to distance ...Coleman is a joke. The Mayor is smart to distance himself from that goober.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-82112965073998802142009-05-21T19:30:27.404-07:002009-05-21T19:30:27.404-07:00I'm pretty darn sure Coleman is down with the bank...I'm pretty darn sure Coleman is down with the bankruptcy. I better double check and write a retraction if I'm wrong on this.M Theoryhttps://www.blogger.com/profile/01892309818226431745noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-69903181143503805382009-05-21T17:51:39.703-07:002009-05-21T17:51:39.703-07:00Sean, there might well be an initial 'hit' on the ...Sean, there might well be an initial 'hit' on the creditworthiness, but I have to think that long-term, seeing the city take the bull (pun intended) by the horns and setting us on a profitable course, would HAVE to be good for the places that rate a city's credit standing. As it stands, we have 30 years of bad, perhaps insurmountable, debt staring us in the face.Downtown Indyhttps://www.blogger.com/profile/06239811599722585898noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-6118108506436087212009-05-21T14:22:01.892-07:002009-05-21T14:22:01.892-07:00I don't know if Coleman supports bankruptcy of the...I don't know if Coleman supports bankruptcy of the CIB as a preferred option.<br /><br />It has been discussed amongst the LP folks though and my opinion was that there might be negative consequences in the credit market, even if only in the perception of the creditworthiness of Indianapolis, that might make that option unattractive and could increase cost on other bond debt.Sean Shepardhttps://www.blogger.com/profile/04784017076656340302noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-17697694074970786972009-05-21T13:17:14.064-07:002009-05-21T13:17:14.064-07:00If Ballard LED and got us out of the CIB mess with...If Ballard LED and got us out of the CIB mess without raising taxes, and did everything he could to expose the agendas of those responsible for this mess, I would be very open to supporting him again.<br /><br />However, Ballard is a middle manager and doesn't know squat about leadership.M Theoryhttps://www.blogger.com/profile/01892309818226431745noreply@blogger.comtag:blogger.com,1999:blog-4679367111526265280.post-5083070572071704552009-05-21T13:05:26.248-07:002009-05-21T13:05:26.248-07:00Wil a 2nd set of promises really do the trick, Mel...Wil a 2nd set of promises really do the trick, Melyssa?<br /><br />Fool me once...Anonymousnoreply@blogger.com