Contrasts Town’s Superior Bond Rating to Suffolk’s “Junk Bond” Status
Who: John Kennedy, Suffolk County Comptroller and Candidate, Suffolk County Executive
Ed Romaine, Supervisor, Town of Brookhaven
Dan Panico, Neil Foley and Michael Loguercio, Council Members, Town of Brookhaven
Andrew Garbarino and Joe DeStefano, New York State Assemblymen
Dominick Thorne, Candidate, Suffolk County Legislature’s 7th District
What: John Kennedy, Suffolk County Comptroller and Candidate, Suffolk County Executive, will continue his “Fiscal Reality Tour” into the Town of Brookhaven. He will be joined by Ed Romaine, Supervisor, Town of Brookhaven, local elected officials and residents at a press conference.
In an attempt to get elected to another four-year term, County Executive Steve Bellone is trying to paint a picture that everything is fine in Suffolk County, but nothing could be further from the truth. The truth is that the county is on the brink of fiscal disaster.
Mr. Kennedy will explain how taxpayers have been burdened by enormous tax and fee hikes, seven bond rating downgrades, and payroll and spending increases, resulting in population loss and a fiscal crisis.
He will contrast the Town of Brookhaven’s financial performance with that of Suffolk County’s. Moody’s Investor Services recently upgraded the town’s credit rating to AAA, its highest rating; meanwhile, Suffolk’s bond rating has been rated Baa2 (a rating considered as “junk”).
Moody’s credited Brookhaven with its “continued strong financial management,” while Mr. Bellone, engaged in out-of-control spending for the past seven years, resulting in seven bond downgrades.
When: Thursday, September 12
Where: Armed Forces Plaza (in front of Capital One Bank)
116 East Main Street
Patchogue, New York
Directions: LIE to Exit 63 South (North Ocean Avenue) toward Patchogue. Take North Ocean Avenue south. Cross over East Main Street and stay on South Ocean Avenue. Turn left onto Terry Street, then another left at Taylor Lane. Make a right and then a left. Plaza is in front of the parking lot.