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Thread: WaylandeNews Endorsements for Debt Exclusions (Questions 1 and 2)

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    Default WaylandeNews Endorsements for Debt Exclusions (Questions 1 and 2)

    We ask for your support in voting for the passage of both debt exclusions, which will be placed on the back of the Election Day ballot as Questions 1 and 2. These debt items will replace debt that is being retired so there will be no net tax impact if they are both passed. However, if one or both of them fail, then taxes will decrease slightly, on the order of $3 per $100,000 of assessed value for Question 1 and $5.75 per $100,000 of assessed value for Question 2. You can review the Finance Committee's presentation on the Debt Exclusion items by clicking here.

    Question 1 asks for the approval of a Debt Exclusion to fund the High School Feasibility Study and Schematic Design. The amount of the exclusion is not included in the question by law, as the question requests general authority to borrow funds for the stated purpose. The question requesting authority to borrow a specific amount will be presented at Town Meeting. The ballot question will read as follows:

    "Shall the Town of Wayland be allowed to exempt from the provision of proposition two and one-half, so-called, the amounts required to pay for the bond issued in order to finance feasibility, schematic design and related services to rehabilitate the Wayland High School?"
    This question must be approved by a simple majority at the polls and pass by a 2/3 majority at Town Meeting in order for the Town to borrow. The net amount of the borrowing will be $315,600, calculated as follows:


    Estimated cost of feasibility study/schematic design........$1,026,000
    Balance of unexpended funds previously appropriated......(300,000)
    ---------------------------------------------------------------------
    Amount of borrowing to be requested............................726,000
    State reimbursement @ 40% of total $1,026,000.............(410,400)
    ---------------------------------------------------------------------
    Maximum incremental amount that will be spent by
    the Town should the ballot question and the article
    at ATM both be approved.......................................... .$315,600
    The State has notified the School Committee that it will reimburse the high school project at a rate of 40%, which would include the feasibility study, hence the net borrowing under Question 1 would be $315,600. Given the significant facilities issues at the high school that must be addressed to maintain accreditation and the prospect of state reimbursement, it is plain to us that this would be money well spent.


    Question 2 asks for the approval of a Debt Exclusion to fund a variety of repairs, a full list and measure to improve tax assessments, and the purchase of an ambulance and advanced life support equipment. As in Question 1, there is no specific amount included in the ballot question by law but there will be a specific amount presented for a vote at Town Meeting. Question 2 will read as follows:

    "Shall the Town of Wayland be allowed to exempt from the provision of proposition two and one-half, so-called, the amounts required to pay for the bond issued in order to (i) repair municipal and school buildings and athletic fields; (ii) pay for appraisal services relative to a physical inspection and measurement of taxable real property; and, (iii) purchase an ambulance and advanced life support equipment?
    The total amount of the debt under Question 2 would be $1,080,000 - $495,000 for Town building repairs, $240,000 for the ambulance and advanced life support, $200,000 for appraisal services, $120,000 for school building repairs, and $25,000 for athletic field renovation. We believe that it is critical to maintain our infrastructure in order to avoid major expenses down the road, and it is also very clear that there are significant problems with our assessments that must be addressed in order for taxpayers to feel that they are being assessed fairly. Finally, the value of ambulance and life support services is self explanatory. We therefore respectfully ask your support for this debt exclusion as well.

    This question must be approved by a simple majority at the polls and pass by a 2/3 majority at Town Meeting in order for the Town to borrow.
    Last edited by Editorial Board; 04-06-2009 at 12:02 PM. Reason: to fix formatting

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