Golf Course for Oxnard

* Re “Oxnard Going for the Green, Again,” April 16.

The city of Oxnard is planning to build a second golf course. “We won’t repeat our mistakes,” says Councilman Tom Holden, who then adds: “It hasn’t penciled out yet. But there’s a strong possibility that it will.”

I think it is time for the citizens of Oxnard look under some rocks and start asking some questions. Based on its record, the Oxnard City Council should not be trusted to do any pencil work on any golf course (or parking lots).

First, the council fired the city finance director who pointed out some errors in the previous pencil work. This incident may cost the citizens of Oxnard $700,000 in damages.

Second, these guys appear to be the same ones responsible for spending $3 million to refinance golf course bonds in 1986. This refinancing was “justified” because it reduced the annual payments from $1.3 million to $1.26 million. I am not a math wizard but with my pencil the difference is $40,000 a year. If the payments were to continue until 2006, that’s 20 years. The city appears to have spent $3 million to save $800,000.

Finally, in 1993 the city spent an additional $500,000 to reduce its payments from $1.26 to $1.22 million, or another $40,000 a year. If 2006 is still the target for paying off the debt, that resulted in a net savings of only $20,000. Grand total for the Oxnard pencil wizards, “Lets spend $3.5 million to save $820,000.”

If this kind of foolishness has resulted in spending more than $1 million a year for the past 14 years why is the debt still the same $11.9 million?

Now the Oxnard City Council wants to spend $8 million on another golf course. Might this money be better spent on research into contamination of the local drinking water? Something is causing their brains to malfunction.

DAL D. GRAHAM

Sylmar