MUNICIPAL ELECTION BUDGET VALIDATION REFERENDUM MUNICIPAL REFERENDUM JUNE 11, 2013
The Municipal election will be held on Tuesday, June 11, for the purpose of electing:
- Three (3) people to the Town Council for three (3) year terms.
- Two (2) people to the School Board for three (3) year terms.
CANDIDATES FOR TOWN COUNCIL Russell Anderson David Goldberg Claudia King CANDIDATES FOR SCHOOL BOARD Caryn Bickerstaff Susan Coughlin Michael Doyle Clare Harrington
____________________________________________________________________________________________________________________________ Question 1: Shall the Order entitled: “Order authorizing: infrastructure improvements along Route One between its intersection with Route 88 and the Maine Turnpike Connector interchange, including underground utility lines and improvements to the street, sidewalks, intersections, streetlights, landscaping, and storm water management, said improvements being
generally described in the plan entitled, “Route One South Infrastructure Plan,” with a total project cost not to exceed $11,700,000 (the “Project”); such Project to include and be generally funded from the following:
- Use of $2,300,000 from the existing balance of funds in the Route One South Tax Increment Financing District (“TIF”) account; and
- Issuance of general obligation bonds in an amount not to exceed $9,400,000 (plus issuance costs) for a term not to exceed 16 years,”
be adopted?
Town Council Recommendation: The Town Council Recommends approval of Question 1.
Treasurer’s Statement
The undersigned Treasurer of the Town of Falmouth hereby provides the following statement as required by 30-A MRSA §5772(2-A). As of April 22, 2013:
- Based upon current and projected cash flows to the Route One South Tax Increment Financing District (TIF) account, it is anticipated that the TIF account revenues will be sufficient to cover the borrowing costs associated with the Project without increasing the property tax rate.
- The Maine Department of Economic and Community Development has approved the Town’s application to extend the term of the TIF through 2030.
- The Town has $47,560,000 of general obligation bonds outstanding and unpaid.
- The Town has $2,000,000 of general obligation bonds authorized but unissued.
- The total amount of general obligation bonds contemplated to be issued if
Question 1 is adopted is $9,400,000.
- The interest cost will depend on the prevailing interest rates at the time the bonds are issued. Assuming a borrowing of the full $9,400,000 proposed to be authorized, level principal payments over a 16 year term and an average annual interest rate of 3.15%, the interest cost associated with the borrowing would be $2,518,172, which would result in a total cost of principal and interest to be paid at maturity of $11,918,172.
The foregoing represents an estimate of costs associated with the financing and such estimates will change due to market conditions. The validity of the voters’ ratification of the bonds shall not be affected by any errors in the foregoing estimates. The ratification by the voters is nevertheless conclusive and the validity of the bond issue is not affected by reason of any variance of actual costs from the estimates provided hereinabove.
Treasurer, Town of Falmouth
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Question 2: Do you favor approving the Town of Falmouth school budget for the upcoming school year that was adopted at the Town Council meeting held May 13, 2013? _________________________________________________________________________
Question 3: Do you wish to continue the budget validation referendum process in the Town of Falmouth for an additional three years?
Informational Note
A “YES” vote will require the Town of Falmouth to continue to conduct a referendum to validate its annual school budget for the next three years.
A “NO” vote will discontinue the budget validation referendum for at least three years and provide instead that the annual school budget shall be finally adopted at a meeting of the Town Council.
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Question 4: Shall the Order entitled: “Order authorizing energy conservation and heating system improvements at the Falmouth Middle School including conversion of the heat distribution system from steam to hot water, installation of a new domestic hot water system, installation of an energy efficient window wall system and connection of the Middle School biomass boiler to the Elementary School and High School heat distribution system (the “Project”) and the issuance of general obligation bonds in an amount not to exceed $3,250,000 (plus issuance costs) for a term not to exceed 20 years to fund Project costs” be adopted?
Town Council Recommendation: The Town Council recommends approval of Question 4.
School Board Recommendation: The School Board recommends approval of Question 4.
Treasurer’s Statement
The undersigned Treasurer of the Town of Falmouth hereby provides the following statement as required by 30-A MRSA §5772(2-A). As of April 22, 2013:
- The Town has $47,560,000 of general obligation bonds outstanding and unpaid.
- The Town has $2,000,000 of general obligation bonds authorized but unissued.
- The total amount of general obligation bonds contemplated to be issued if
Question 4 is adopted is $3,250,000.
- The interest cost will depend on the prevailing interest rates at the time the bonds are issued. Assuming a borrowing of the full $3,250,000 proposed to be authorized, level principal payments over a 20-year term and an average annual interest rate of 3.45%, the interest cost associated with the borrowing would be $ 1,177,720, which would result in a total cost of principal and interest to be paid at maturity of $4,427,720.
The foregoing represents an estimate of costs associated with the financing and such estimates will change due to market conditions. The validity of the voters’ ratification of the bonds shall not be affected by any errors in the foregoing estimates. The ratification by the voters is nevertheless conclusive and the validity of the bond issue is not affected by reason of any variance of actual costs from the estimates provided hereinabove.
Treasurer, Town of Falmouth _________________________________________________________________________ _________________________________________________________________________
Question 5: Shall the Order entitled: “Order authorizing renovations and improvements to the Falmouth Middle School including renovations and upgrades to science and music classroom space and renovations and related structural upgrades to the roofs of the library, cafeteria and lower gymnasium (the “Project”) and the issuance of general obligation bonds in an amount not to exceed $1,750,000 (plus issuance costs) for a term not to exceed 20 years to fund Project costs” be adopted?
Town Council Recommendation: The Town Council recommends approval of Question 5.
School Board Recommendation: The School Board recommends approval of Question 5.
Treasurer’s Statement
The undersigned Treasurer of the Town of Falmouth hereby provides the following statement as required by 30-A MRSA §5772(2-A). As of April 22, 2013:
- The Town has $47,560,000 of general obligation bonds outstanding and unpaid.
- The Town has $2,000,000 of general obligation bonds authorized but unissued.
- The total amount of general obligation bonds contemplated to be issued if
Question 5 is adopted is $1,750,000.
- The interest cost will depend on the prevailing interest rates at the time the bonds are issued. Assuming a borrowing of the full $1,750,000 proposed to be authorized, level principal payments over a 20-year term and an average annual interest rate of 3.45%, the interest cost associated with the borrowing would be $634,156, which would result in a total cost of principal and interest to be paid at maturity of $2,384,156.
The foregoing represents an estimate of costs associated with the financing and such estimates will change due to market conditions. The validity of the voters’ ratification of the bonds shall not be affected by any errors in the foregoing estimates. The ratification by the voters is nevertheless conclusive and the validity of the bond issue is not affected by reason of any variance of actual costs from the estimates provided hereinabove.
Treasurer, Town of Falmouth
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BUDGET VALIDATION MEETING
The statutory Budget Validation Meeting will be held on Monday, May 13, 2013 in accordance with M.R.S.A. 20-A § 1486. The meeting will start at 7:00 P.M. and will be held in the Council Chambers at the Falmouth Town Hall.
FALMOUTH FUEL FUND
On January 28, 2013, the Falmouth Town Council approved an appropriation in the amount of $10,000 to be placed in a Fuel Assistance Fund for Falmouth residents who are in need of assistance to keep their homes warm.
With the current economic conditions, federal funding being cut and changes in the federal guidelines, families in need are receiving less or not qualifying at all. In Maine, about 75% of all households are heated by oil.
Low Income Heating and Energy Assistance Program (LIHEAP) funds from the federal government have been dramatically cut for this heating season. LIHEAP funds are distributed through the local CAP, (Community Action Programs) Opportunity Alliance (formerly known as PROP). There are other sources for heating assistance including Keep ME Warm program, also through Opportunity Alliance, Falmouth Food Pantry and local churches.
Donations to the Falmouth Fuel Fund will be allocated by the appropriate organizations to only Falmouth residents with a demonstrated need. Over 200 Falmouth households have sought and received similar type of fuel assistance since 2008.
Donations can be made at Town Hall or mailed to Falmouth Fuel Fund, Falmouth Town Hall, 271 Falmouth Road, Falmouth, Me. 04105. Please make your checks payable to the Town of Falmouth.
On behalf of the town, thank you for your consideration and participation in this important campaign.
Maine LIHEAP (Low-Income Home-Energy Assistance Program) The Low Income Home Energy Assistance Program (LIHEAP) helps eligible low-income homeowners and renters pay for heating costs. LIHEAP provides help with home-energy costs including fuel assistance, emergency fuel, home weatherization and energy-related repairs, and eligibility screening for other assistance programs.
For more information or to set up an appointment, call: 553-5900, 553-5800 or email:
Click here for more information about Maine LIHEAP.
Other Federal Programs Requiring LIHEAP Eligibility
Additionally, the Home Energy Loan Program provides low-interest rate loans to low- and moderate-income homeowners to finance improvements to make their homes more energy efficient.
DOG LISCENSES ARE AVAILABLE!
Please register before January 31, 2013 to avoid any LATE FEES.
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