Parks Pledged as Collateral After Bankruptcy
* Shirley Grindle aptly points out that some county transactions in recent years have threatened our parklands (“Coming Soon: Red-Tape Repair to Secure Parks,” Orange County Voices, Nov. 12).
As one example, assets pledged as security by the county during the bankruptcy bailout process included Aliso and Wood Canyons Wilderness, Ronald W. Caspers Wilderness, Gen. Thomas F. Riley Wilderness (formerly Wagon Wheel), Weir Canyon Regional and Limestone-Whiting Wilderness parks, as well as as Peters Canyon Regional Park and Modjeska Canyon Nature Preserve. Protective deed restrictions on several other parklands held in check the length of this list.
Parkland visitors and devotees are indeed fortunate that our economy is strong and adequate funds are available to make bankruptcy bailout payments when due. Nonetheless, will the approximately 13,500 acres of parklands used by our county supervisors as collateral for bailout loans be at risk in future years should there be business cycle downturns or recessions?
JEAN JENKS
Laguna Beach
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