Monday, April 08, 2019 1:00 am
Act now to keep Legacy Fund strong
What is a “legacy”? Merriam-Webster defines it as “something transmitted by or received from an ancestor or predecessor.” The citizens of Fort Wayne have such a transmission from those who have come before us in the form of the Legacy Fund, which is being rapidly depleted. If we do not act quickly, this will no longer be a legacy for future generations but a memory.
In the last city election, many current elected officials campaigned on the promise to “protect” the corpus of the Legacy Fund and ensure its viability for many years to come. As the first chair of the Legacy Joint Funding Committee, we sat down to determine what kind of corpus would be necessary to ensure the long-term viability of the fund. In 2016, we agreed (not binding on either the mayor or City Council) that $30 million was the approximate figure.
At the end of this year, the fund (from inception) will be projected to have generated more than $75 million in revenue. Spending has been approved at a little more than $53 million. This leads to a projected cash balance at the end of this year of slightly less than $22 million. This is far from the $30 million we talked about needing for perpetuation just a few years ago. And with less than 10 years remaining in funding from Indiana Michigan Power, the opportunity to grow the fund is decreasing. We need to act now.
If we are serious about protection of the fund and having it be a true legacy, I call on council to freeze spending immediately. I also ask them to have a discussion on what a legacy means and what kind of corpus is necessary for this to be the perpetual fund they said we needed. As a part of this discussion, I hope they will talk about ways we can transform the fund so it goes beyond the subjective “transformational” projects of today and looks at investment in the “opportunities of tomorrow” (those things that bring a real return on investment to our citizens).
We have a great resource in the Legacy Fund; let's protect and grow it!
CHEERS and thank you to the two young men who bought our lunch at the Coney Dog Cafe in New Haven.
So thoughtful of you!
We will pass it on.
BILL and JOAN TUMBLESON
Constitution doesn't endorse free gun use
Those who claim the Second Amendment means anyone who wants should have a gun, should read it more carefully.
The Second Amendment says: “A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear arms, shall not be infringed.”
The writing of the Second Amendment began on July 24, 1787, and finished on Sept. 14 of the same year.
Our country barely had an army and would need every able-bodied man to be ready to fight the British at any moment. The Continental Army was formed by the Continental Congress as a unified army for the states to fight Great Britain. The Revolutionary War era lasted from 1765 to 1783. All able-bodied men had to have guns and be ready to fight at any moment in case the British decided to try to reclaim their colonies.
A militia, according to Merriam-Webster, is:
1. a. a part of the organized armed forces of a country liable to call only in an emergency
b. a body of citizens organized for military service
2. the whole body of able-bodied male citizens declared by law as being subject to call to military service
How many of today's gun activists fit any of Merriam-Webster's meanings of the word “militia”? I dare say, not many! If we were to go strictly by the Second Amendment, we would require all gun owners to be ready to take their guns and fight an invading enemy at any moment. That is what the Second Amendment says.
Nowhere in the Second Amendment does it say that anyone who wants a gun should have one to do with as he chooses.
Letters related to the May 7 primary election must be received by noon on April 29 to be considered for publication.