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Taxpayers for Interest-Free Financing...(TIFF) is a political
action committee (PAC) formed for the purpose of encouraging government agencies and political subdivisions to place tax levies on the ballot years in advance of starting planned construction. In this way, capital improvements can be funded with a savings
account, without the need to borrow money. By not going into debt (selling bonds) the added cost of interest payments is avoided. The down-side of bond-financing is explained in more detail on page, [X] BOND-FINANCING IS
QUESTIONABLE PUBLIC POLICY.
Interest-free financing goes by different names. Some of the names are:
* Zero-interest financing
* Debt-free financing
* Pay-as-you-go financing
* Build-as-you-collect financing
* Plan-ahead
financing.
TIFF's purpose is not to oppose tax-funded projects that serve a useful purpose. Its purpose is to oppose financing methods that result in wasteful interest costs. Therefore, the PAC will focus on the early decision-making process where both the scope of a public improvement project and the method of financing are decided. Needless to say, interest-free financing will be advocated.
This PAC's name is a stem name. The specific target of a political action effort will change with time. Accordingly, the tactical working name, Taxpayers for Interest-Free Financing..., will change as the target changes. For example, if TIFF is interacting with the Columbus City Schools, the groups project name might be "Taxpayers for Interest-Free Financing...of Improvements for Columbus School Buildings".
Because TIFF is a registered PAC, all accounting records will be filed with the Board of Elections as a public record. To keep the campaign finance system happy, contributors to TIFF must
submit the following information.
* Name:
* Address:
* Business association (employer):
* TIFF target:
(Funds left over from a specific project will be donated to the target public agency.)
Donations in support of TIFF should be sent to the paid-for-by address listed below:
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Paid for by:
Taxpayers for Interest-Free Financing...(TIFF)
1641 Hess Blvd.
Columbus, OH 43212
Bill Buckel, Treasurer, Ph. 614--488-8963