tag:blogger.com,1999:blog-6241456614018828772.post4596493049663468096..comments2023-10-14T11:34:23.274-04:00Comments on AN INSIDE LOOK: Straight Talk on the Debt ExclusionAn Inside Look/Bill Gouveiahttp://www.blogger.com/profile/05020005899673156223noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6241456614018828772.post-55371128934046528102007-09-13T13:58:00.000-04:002007-09-13T13:58:00.000-04:00The ballot question asks for approval of a $1.9 mi...The ballot question asks for approval of a $1.9 million Debt Exclusion Override to pay off the remaining balance on the Norton Middle School. The increased yearly levy funds would be used to fund capital improvements. The ballot question is neither a “gimmick” nor an answer to Norton’s financial problems, it is only a band-aid that makes good fiscal sense for the Town of Norton. <BR/>Why should Norton pass debt exclusion? <BR/><BR/>By removing the $1.9m Norton Middle School building project debt from our levy limit, we will free up funds to be used for other capital improvements such as Town Hall repairs, upgrading of aging equipment in our Public Works and Public Safety departments and building maintenance/repairs, etc. Not the least of which are the Norton Middle School roof and the Henry A. Yelle school project, both of which have been approved by Town Meeting and MUST be fixed whether the ballot question passes or fails. Without the debt exclusion, these dollars (approximately $1 million) will HAVE to come from various departments within the town and school budgets.<BR/><BR/>The REAL advantage in voting yes on this ballot question is it allows town officials the flexibility to borrow money OR fund capitol improvements WITHOUT dipping into operating budgets (currently running at extremely low levels) of our various town departments. The question, per the advice of the town’s financial advisor has been approved by the town manager, board of selectmen, and the finance committee.<BR/><BR/>The ballot question will read as follows:<BR/><BR/>Shall the Town of Norton be allowed to exempt from the provisions of Proposition 2 ½, so-called, the amounts required to pay for the bonds issued in 1998 in order to construct, equip and furnish the Middle School? Yes or No<BR/>This debt would exist for only 8 years (not forever). The average household would pay an additional $63 dollars in taxes for the first year, with the debt decreasing to $7 in the final year. This amounts to a total of only $295 over an 8 year period. If you need more information on how much will the debt exclusion cost you, please feel free to contact me either by email, timgiblin@comcast.net, or phone (508) 285-0210. <BR/>Please vote YES September 18, 2007, and support your town. All precints will vote at the Norton High School and polls are open from 6am-8pm. <BR/><BR/>TimGiblin<BR/>Norton SelectmanAnonymousnoreply@blogger.com