MDJ endorses parks bond!

From the Marietta Daily Journal on Sunday, October 22, 2006

Support for Cobb parks bond a no-brainer

What little open space there is left in Cobb County is going fast - and it will disappear even faster if county voters fail to pass the $40 million bond referendum for parkland acquisition that will be on the Nov. 7 General Election ballot.

Years ago, consensus opinion in the county was that we had little need to acquire parkland because of the presence here of federally owned Kennesaw Mountain National Battlefield Park and its 3,000-plus acres. Yet even though it is not primarily a recreation park, it is bursting at the seams these days, as are the Chattahoochee River National Recreation Area and nearly all of the county's other parks. Of course, the reason for that is that the county's population has trebled and quadrupled in recent decades, and is still growing.

Now, county voters are looking at what likely is their last, best chance to save significant open space to turn into parks, courtesy of the aforementioned bond referendum.

And the timing of the referendum is not the only good thing about it. It also makes plenty of economic sense as well.

• First of all, the $40 million in question will be paid off in just 10 years. That's nothing in terms of bonds, and a much shorter time than most of us will spend paying off our mortgage debt.
• Second, thanks to its gleaming bond rating (one of only 20 counties in the country with a "AAA" rating), Cobb can borrow the money at close to 4 percent interest.

The combination of short bond-term and low interest rate translates to a better bargain for taxpayers than a "pay-as-you-go" approach that a few critics are advocating. Of course, with a pay-as-you-go-approach, by the time you had saved the money to buy that piece of Cobb real estate you had been coveting, it probably would have been snapped up by someone else. Using the "pay-go" approach to buy parkland makes no more sense than using it to try to buy a house. Who in his right mind would try to save enough money to pay up front for the entire purchase price of a house?

Here are some other reasons to vote for the parks referendum:

• The $40 million can only be used to acquire land for parks - not for right of way or for easements or for roads
• It will not be a liability on future generations
• Any land purchased will have to remain parkland forever, not be converted for some other use down the road
• The money Cobb voters approve may be matched by federal, state or private dollars
• No land will be condemned for parks, and it will be purchased only from willing sellers
• The county will have to publicize an annual audit of how the money is spent.

If the bond is approved, the county will set up a citizens' advisory committee, made up of three people from each commission district, which will recommend potential sites for acquisition. The county plans to ensure that a fair share of the bond proceeds are used to acquire parkland in Cobb's six cities as well.

There's also no question that having adequate - or more than adequate - parkland is crucial when it comes to considering a community's quality-of-life issues.

We've all heard of bond referendums through the years that were less than clear-cut in their ambitions and funding methods, but the upcoming Cobb parks referendum is as close to a no-brainer as you'll ever see. And we would encourage you to vote in favor of it on Nov. 7.