On Dec. 17 the Groton City Council ignored opposing statements from several speakers plus a petition to postpone a decision signed by hundreds of concerned citizens and unanimously approved giving away Thames Valley Communications for a paltry 0.5 percent of the taxpayers' investment.
I hope Groton city taxpayers will reflect on the onus that is being foisted upon us: an unsecured debt of about $28 million with no recourse such as restitution from the purchaser, liquidation of assets, or declaration of bankruptcy. The burden for payoff will initially be borne by Groton Utilities ratepayers but ultimately will be paid by city taxpayers in the form of increased taxes or reduced services to compensate for the loss of revenue to the city government due to diversion of funds for debt payment.
I firmly believe that with less covertness and reliance on opinions, estimates and advice from out-of town experts and more local grassroots input, innovative thinking and aggressive marketing, a solution far more beneficial to the Groton city taxpayers could be achieved. What do you think?
Merry Christmas to all, and especially to CTP Investors. Did you get a gift, or what?