In 1973, Senator John Stauffer, (Democrat) then Joint Chairman of the Public Commission on PA Public School Buildings and co-sponsor of the precursor to ACT 34 testified "the power to approve an expensive school building should rest in the hands of those who are going to assume the long term debt." (History of Senate Bills, 1973). The purpose of the ACT 34 "Taj Mahal Act" of 1973 was to give taxpayers the opportunity to weigh in on school construction decisions.
Thank you for preparing your thoorough analysis of the costs and benefits of a construction delay.
One Comment: You used the Vangaurd WEllington Fund as a benchmark. This fund's performance has exceeded index performance by about 3.25% annualized over the past 3 years. I suggest that using the index returns is a better benchmark and supports your case more strongly.
Posted by: John Lisle | May 18, 2007 at 09:07 AM