Dear Supervisor,
When I was on the Board, some felt it was helpful to subtract a few zeros off of project amounts to make them more relatable.
In line with that suggestion, I am looking at purchasing a new commuting SUV for me and several neighbors and would like the County to guarantee the loan for $120,000 since it is for a public good.
We only need $80K to buy the SUV, but we also need to be able to pay for the interest on the loan and need to set aside 2 years of payments in case the County has to start making the payments.
We want to pay back the loan over 30 years since that will lower our payments and make the purchase more feasible for us. Please don’t worry about the long term of repayment, since if we can’t make the payments, we will give you the SUV (probably in about 15 to 20 years). No worries – I am sure that the SUV will still be very valuable at that time. It is not like SUV technology has changed since 1994 or will change again in the next 30 years.
Please let me know what you decide.
Thanks,
David Baker
Kronenwetter, WI 54455
This post is the opinion of David Baker