As of today, the Swaption monster is at 27.1 million dollars and climbing, WHY???
The announcement was made today during the Finance meeting, but, there was no mention of a pay date or plan to complete this stupid mistake.
To be clear, the mistake we're talking about is - not paying off the swaption when it was under 10 million...less than two years ago (or so).
Obviously Mr. Stoffa had the money then to do so, and chose to gamble instead. Well, as we know today, his gamble failed.
Our observation is that he continues to gamble with our tax dollars, and we say that because he was authorized by County Council to pay it off at 25 million and he has not done so yet. His hesitation continues to waste NorCo tax dollars.
Truly sad - we the taxpayers are out another 2.1 million!!! When will this madness end?