Will write much more about this over the next few days, but basically, here's the situation

Correcting something I wrote earlier about Somervell County getting bonds to build a tire processing plant. I had, based on some fuzzy information, believed that Mike Ford was attempting to push bonds that would obligate the tax payer in the same way he obligated us with the GRMC COs. Unlike the rushed deal that Mike  Ford illegally pushed for with regard to the Glen Rose Medical Center, which put us on the hook for 14.4 million dollars in debt for certificates of obligation, taxpayers will not be involved in a bond deal this time, so whew, I'm glad to be wrong about that. (UPDATE AGAIN-not so sure I am completely wrong, just about the non-recourse bonds-if the county is the the bond seller as public corporation, then exactly how is this spelled out between the county and SRO2? Or is it that the county is the bond issuer but the SR20 will do all the legwork to sell them? I listened to the entire audio from the meeting on Monday but don't recall hearing that specific piece. The county would own the land and business but the bondholders would be the ones that could own it if the business failed, so that that property could become private at that point and no longer owned by the county) That doesn't mean that our tax money will not go to buy property  Just finished listening to most of the audio, our tax money does not go into this. Although no one has yet said explicitly that I can hea on the audio, it appears that The County becomes a public corporation with the ability to issue bonds, and then someone (SR20? who?) would run around to sell the bonds. (why is the county in the business of buying and owning land for anything but a governmental entity that benefits the public at large instead of a corporation?) or that we may not be holding the bag should SR20 not succeed as a business.  Instead, here's how it works. The SR20 people want to be able to sell bonds to interested investors  based on a deal the county will offer, which apparently includes at some point owning land from a homeowner who lives off 56 near the power plant (apparently not a done deal as of this date). This deal has been discussed privately and attempted to be kept quiet. Why are SR20 coming to this county with their dog and pony show? (note, as the Glen Rose Reporter says, that this company has already been turned down in Cleburne and Alvarado. ) Because they don't have the credit rating themselves to get the money, like you or I would have to do if we wanted to start out own business. The deal apparently (will be looking for the paper proof)  involves the county owning the land that SR20 will be using and leasing it to them (will this be a really cheap lease like the county typically makes with companies?) . IF SR20 makes good money over the next few years, they would be paying back monies to Somervell County in about 4-5 years (I plan to update this tomorrow after listening to the audio of the meeting to hear just how Frick and Frack pitched this) . Keep in mind that SR20 has never operated a tire processing plant on this large scale, and only a fool would believe that there would be zero operational problems, to include environmental issues).  If however, they do not make money and there is no revenue stream (and suppose that they let their insurance lapse that includes doing cleanup on the land), what would happen? The very real potential issue is that the county (and us) would then be responsible for doing environmental cleanup on land that the county owns. From the Glen Rose Reporter march 6, 2014

Ford elaborated by saying that the agreement would be a public/private partnership in which the county would own the land and lease it to SR20

We heard informally that the SR20 people indicated one reason they were pitching the tire company is that they believe Somervell County is *desperate for money*. Well, who got the county into this mess besides the ones we elected, kingpin of whom is Mike Ford?

Mike Ford sure does love giving welfare money to companies. Have said before that it always amuses me how the proponents of so-called *small government* just love to be hypocrites when it comes to their own agendas. The time for Ford and the commissioners to have considered how to solve the revenue stream issue was a long time ago when the warnings about EFH's bankrupcty were looming. If you see the train coming and you keep on standing on the track, when the train is about to hit you, yeah, you may try some desperate measures , but you sure can't be called smart.

Wondering, is it so far fetched to want companies to come here who can, let's say, get their own funding? Go to venture capitalists? Start small and pay their own way? Why is there a different standard for, say, the Happy Hippo, which company is paying their own way versus what looks like some grifters showing up to a gullible county court pulling nickels from behind their ears.

Shaking my head and glad that Mike Ford will be gone soon, to spend all his time in gated community Pecan Plantation expecting others to admire his swelled head and girth