1. It's Financially Risky. If Shadowlands were to default on bond repayment, Juneau County could be named and involved in lawsuits and incur the costs of defending against them. Fracking and the industries that support it could be considered a risky financial investment because of the environmental and public health concerns the industry is facing and the record low prices of natural gas.
2. Tax-Exempt. Shadowlands would secure a tax-exempt status with issuance of the bond.
3. Shadowlands doesn't need the money. The Star Times reported " A final no vote by supervisors on the borrowing plan is unlikely to halt the project. And Shadowland's Chief Financial Officer said, “It certainly can proceed without the county’s assistance," Bates said. “This is just a way to finance it.”"
4. Health and Environmental Concerns are Serious. There is also the moral question of Juneau County sponsoring an industry so fraught with environmental concerns for their citizens. Trempeleau County is facing MAJOR run-off problems from sand-mining operations. In fact one resident’s home was completely washed away. When the DNR issued a citation the owners of the operation sold it and now there’s nothing but finger pointing. ”We’ve learned citations are pretty much ineffective for this industry”.
To read more about this:
Cancer, asthma and lung-related diseases are clearly increased by the presence of silica sand in the atmoshere and Wisconsin has NO sand air standards. The industry is moving quicker than or laws to protect its citizens.
5. It's Boom or Bust. Though we could incur a temporary benefit from the boom (up to 50 jobs) the bust that historically follows a mining boom leaves communities devastated and can take decades to overcome. Mineral and sand extraction is land intensive contributing to significant environmental degradation.. This makes mining-dependent areas less attractive places to live, work, do business, and visit, depressing economic diversification and development.
To read more on this: http://www.wisconsinfarmersunion.com/webfiles/fnitools/documents/economics_of_frac_sand_mining.pdf
THERE IS NO BENEFIT TO JUNEAU COUNTY ISSUING THESE BONDS Tell the County Board of Supervisors to say NO!