They can be reneged on when the ‘trust’ funds run dry can’t they?
Of course but, in the meantime, because governments at all levels have been given a pass on making what is laughably referred to as their “Annual Required Contributions” tax money remains available to repay campaign donors if you can come up with any old harebrained scheme. For example:
The Union County Improvement Authority presented their final report on the UCIA Renewable Energy Program (getting Democrat controlled entities to have solar panels put up so DeCotiis and Birdsall can get big fees for which they show their gratitude by giving Democrat politicians a taste). Adding up pertinent numbers from that report we find that the total cost to put up those panels on 31 structures came to $19,505,400 – all bonded – and the annual electricity savings in the first year could be $251,662.
The bonds are expected to be paid off in large part by Solar Renewable Energy Certificates (SRECs) that were costing about $600 at the time this deal was put together. The structures that put up the Solar Panels are also supposed to get a cut of the SREC sales in years 11 through 15. There are projections in the UCIA report about what that income would be were SRECs priced at either $250 or $350 or $450 though there’s nothing about a $75 price.
And the professional fees for this scam to date? $1,216,617.24