Wyatt Bunker (2)
Information about Mayor Wyatt Bunker Lakeland TN
Scam update: Attempted explanations to the claims regarding the 65% higher interest rate on the middle school.Written by Super User
Attempted explanations to the claims regarding the 65% higher interest rate on the middle school.
This story is an update to a story we published earlier. In that story we learned that Lakeland TN Mayor Wyatt Bunker intentionally negotiated an interest rate 65% higher than necessary so he could get "extra" money to build a 3.7 million dollar middle school athletic field. This article is found here.
So far there have been two attempts to defend this information none of which have come directly from the Mayor. He wouldn't participate in a recent news channel 24 story at all regarding this matter.
Click Read More Below for the entire story
Bunker negotiates a 65% HIGHER interest rate!
Wyatt Bunker is NOT a fiscal conservative like he claims to be. He purposely negotiated for a 65% HIGHER interest rate than the one that was offered to him.
Why? It was so he could receive $2,500,000 in "extra" money. This money was misrepresented to the public and it was only because of a FOI (freedom of information request) that we know the details of the CON (Capital Outlay Note) that was used to finance the middle school.
The purpose of the "extra" money was to build $3,500,000 worth of athletic facilities for the middle school.
Note in all the discussions about the financing it was always discussed that it would be $20,000,000 at a fixed interest rate. It was NOT $20,000,000 and it was NOT a fixed interest rate.