Aren’t we in danger of missing a key point about the debacle around the I-69 delay [Indiana lawmakers urge officials to learn from I-69 mistakes, IBJ.com July 8]?
As your most recent article notes, the state enjoys a low cost of funds. This means that we can jump in now, borrow to complete the project and “save some money”—say, $30 million in the process.
Doesn’t this mean that we could have saved a multiple of this by using bonding in the first place? The answer is yes.
Isn’t it time to tell the public that they have suffered delay in order to waste money while playing financial engineering games?
Rep. Ed DeLaney