The upcoming referendum to go with the alternate plan involving borrowing $7.4 million seemed to me to be a no-brainer. The more I read, the more it made sense.
I had one burning question, so I went to the municipal office and got it answered.
How were we taxpayers going to pay back the principal of $7.4 million?
I got my answer: the principal will, as I understand it, be paid out of cash flow from sewer fees that accumulate each year. This means we will not be paying this loan off with property tax (increases). This news makes this new proposal an even greater slam dunk.
Fellow citizens, if you have any questions, go get the answers so you can feel comfortable voting yes on the referendum. Please remember it is hard to get stand alone referenda passed, and the naysayers will get their way if we are too apathetic to get out the yes vote.
R.S. (Bob) Paulin
© Coast Reporter