Forever in your DEBT
Selectman Morrison asked a really good question at last night's selectmen's meeting during dicussion about the USDA loan resolution for the Pleasant St. Pump station.
"With all of the projects Templeton has have we reached the debt ceiling yet?"
That's a really good question!
That's a really good question!
The chart above is from a DLS bulletin that contained a link to Equalized Values throughout the Commonwealth.
Based on 2014 data, 5% of the EQV=$28,574,135. If a community wants to incur more debt - up to 10% then that community(through its Board of Selectmen) would need to ask for permission from the Municipal Finance Oversight Board.
Here is form to apply for approval to borrow over 5% of EQV-
Looks like the school project will put Templeton "over the limit" . Might want to work on getting that bond rating back ASAP! Just a thought.
Based on 2014 data, 5% of the EQV=$28,574,135. If a community wants to incur more debt - up to 10% then that community(through its Board of Selectmen) would need to ask for permission from the Municipal Finance Oversight Board.
Here is form to apply for approval to borrow over 5% of EQV-
So do they think we are special ? Doug better be careful or he will violate the rule about saying anything again St the Town !! Doesn't he know he is not supposed to rock the boat ? Could you imagine the laughter when we actually apply to go over the acceptable limit ? Oops ! Ok explain that one !
ReplyDeleteWho is watching anyway and what if you do go over the limit what are the repercussions for
ReplyDeleteit?? nothing i bet !
If you look at the entire application it appears to require that the town would have a bond rating just to apply. Questions 8 +9 both ask for bond rating and date received.........
ReplyDeleteNone as an answer might get it denied............lol