A new year and the same spin. As I’ve documented for years, Bountiful City uses it’s power company to avoid truth-in-taxation requirements by manipulating power rates/fees. This was finally admitted in their last few letters:
…are used to offset what otherwise would be a significant increase in property taxes.
In their now perennial spin letter (verbatim to last year’s letter) they again herald how great it is to be able to dodge a tax transparency law other cities need to follow and can fleece naive citizens and charities to the tune of about $2.46 Million this year (around $100,000 more than last year).
Their letter continues the same spin about “investors” and “dividends” both of which I debunked in last year’s post. Like I said then, if we’re really investors, then they better be filing with the SEC and I’m sure the SEC would love to meet with them to discuss their illegal use of investor returns. Talk about patronizing.
I won’t go into further detail on the other sophistry contained in the letter (see the above link to last year’s post for that). I will conclude with this: Bountiful Power’s rates remain higher (for up to 400kWh) than Rocky Mountain Power which has more oversight, regulatory, and tax overhead (9.25 cents/kWh versus 8.85 cents/kWh). Oh, and Rocky Mountain Power actually does comply with the SEC and return dividends to their investors.
As an aside: Bountiful’s City Council’s meeting on June 14 at 7PM will official transfer their power slush fund loot into the city coffers. Feel free to attend/email but don’t plan on them giving a rip on what you have to say (the decision was made long before the council meets).