Wednesday, January 19, 2011

Bankruptcy for States

The Volokh Conspiracy » Bankruptcy for States
"[S]tate bankruptcy could even permit a restructuring of the Cadillac pension benefits that states have promised to public employees.

These are often “vested” under state law, and in some states, like California, are protected by the state constitution.
Under state law, little can be done to adjust them to more reasonable amounts.

Although the law is somewhat murky, there is a strong argument that bankruptcy could provide for an adjustment of these obligations.

Unless the state’s “guarantees” were construed as a property right protected by the Takings Clause of the Constitution (which is doubtful if there is no collateral or other indicia of a property right), the federal bankruptcy law would trump contrary state law under the Constitution’s Supremacy Clause."

Muskegon County budget on-line!

Newly elected County Commissioner Alan Jager's wife Tammy sent us this nifty link:

The county budget is at the following address:

http://co.muskegon.mi.us/budget/fy2011a.htm

You can find it by doing the following steps as well:


Go to Muskegon County Government page


click on County Departments


click on Finance/Management


click on Budget Services


click on FY20011 Adopted (that is the budget)

Isn't it refreshing when our electeds actually go out of their way to inform us taxpayers?

I like the new attitude!

County commission meeting 1-20-2011 tomorrow 3:30

Odd that the first transportation committee meeting of the year agenda is still not posted on the county site.
I hope it's not a bad omen for new chairwoman Rillastine R. Wilkins.
Or is there something they want to hide from us?


Otherwise not too much going on tomorrow except this little gem.
http://co.muskegon.mi.us/boardofcommissioners/agendas/cd_11_01_20.pdf

SUGGESTED MOTION (STATE EXACTLY AS IT SHOULD APPEAR IN THE MINUTES)
I move to approve purchase of a new utility vehicle for the Parks from the Power Shop for their bid of $11,980 (RFB-11-1848) with costs being paid by parks fund 2080-0691.

It appears the "parks fund" doesn't exist.
Yes, it's a minor expense but it's another example of the same old mentality that is breaking our county's financial back.


Maybe we'll find out more tomorrow.

Debt Clock

Total Pageviews