It was the speech heard - if not around the world - certainly throughout the diplomatic community….on Independence day in Belmopan, Mayor Sheran Palacio blasted her own councillors for not supporting her vision for a 10 million dollar bond.
We got a copy of the bond document today and here's what we say:
This is the 10 million dollar bond proposal that Mayor Sheran Palacio tried to get her council to support in March.
It includes Renovation of the Belmopan Market Square, and the Construction of a new Belmopan City Hall Building along with other initiatives.
And while it has a long list of deliverables, it doesn't say how much anything will cost, no estimate and no plans are provided for construction of the new buildings, and priority needs for the council such as machinery are not included - and it also doesn't;t identify which revenue stream will repay the bond.
Of course, these things might be included in a bond prospectus shown to investors, but councillors say they were told they had to sign the resolution before they could see that. So, the bond never got support.
And on Independence Day that left Mayor Palacio isolated and without allies in her council or in the government. She questioned their intelligence:
Sheran Palacio, Mayor of Belmopan
"One would think that with intelligent people in office and I'm referring to my own council, they would be ready to support development. For those of you who don't know, we had and still have the opportunity to invest in a 10 million dollar bond to help develop our nation's capital. Even after I agreed to the added conditions imposed by my council, they have refused to sign."
"In trying to undermine my leadership, let it be known that our people are looking and they deserve better."
But, her party seems to think differently and Thursday's speech may indeed be Mayor Palacio's final flameout, a kamikaze mission for a stillborn bond issue that seems fated to remain forever in draft form.
Sheran Palacio, Mayor Belmopan
"When you have plenty of enemies following you, bumper to bumper and praying for you to fail, you must cleverly sidestep their landmines and cause for victory, leaving a legacy."
