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Letters
Voters should extend current utility tax
I'm writing to urge support of Measure M, a 15-year extension of the current city utility tax.
This local tax has been in effect since 1990. Voters originally put it into place to finance the purchase of two extraordinary parcels of recreational land: Blackberry Farm and the 13-acre Creekside Park.
The economy was going strong in 2000 when it was decided to continue making civic improvements by building a much-needed new library and other projects.
Since then the economy has changed, and the prospect of financing these projects exclusively through reserve spending and new debt has become unwise. In its search for alternative funding, our city staff has come up with a fiscally smart plan to refinance the city's current debt at today's more attractive interest rates over a longer period of time, and thereby provide $5.8 million in cash for our General Fund.
We shouldn't saddle future city councils with finding a way to pay the refinanced debt, and we don't want to raise anyone's taxes in the midst of a recession, so we're asking Cupertino voters to extend the expiration of the current 2.4 percent utility tax from 2015 to 2030. This simple extension would allow us to keep the city on solid financial footing, maintain a prudent level of reserves, and continue to improve our quality of life.
Measure M will not raise taxes, but will help us move forward with important improvements. Please join me, and all of your city council members, in voting 'yes' on M on March 5.
Richard Lowenthal
Mayor, City of Cupertino
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Cupertino, California Since 1947
