To the Editor:
The City of Bayonne has a cash flow problem and plans to get over the hump. Mayor Smiths’ campaign slogan was “Moving Bayonne Forward” but it appears he is moving Bayonne backwards to fiscal oblivion!
During the campaign for Mayor he knew the bad financial status of our city but he never brought it out to the voters. Mayor Smith boldly and loudly stated that there would be no more one shot deals. “Promises made and promises kept,” he said. What does he call borrowing $50 million dollars to defray city expenses? It’s certainly not a gift certificate!
By state law the municipal budget had to be balanced on June 30 and it was not done. Why? The state has given the city until Aug. 5 to do so. If the budget is not balanced, the state can monitor our city and probable fines could be issued.
Mayor Smith has been mayor for the last 18 months and our city debt keeps doing up and up! Instead of cutting school and city expenses to the bone he keeps spending money that we do not have! While millions of people are out of work and those working are glad to have a job, our mayor gives out millions of dollars in raises, promotions and hirings. In these crucial fiscal times this is not the way to run a city. Regarding the $50 million dollar loan that our city will take out this year, what will it be next year, the year after that and the next?
My advice to you is to ignore your clique of yes people, and to hire a first-class financial consulting firm.
LEONARD R. KANTOR