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When is the public informational meeting?
Public Information Meeting *
South Burlington – Remote
Thursday, February 25, 2021
* Login for Bond Vote Informational Meeting
Presenters and members of the public are asked to participate remotely either by interactive online meeting or by telephone. Interactive Online Meeting (audio & video): https://global.gotomeeting.com/join/889206165
By Telephone (audio only) Phone Number: (866) 899-4679 - Meeting Access Code: 889-206-165
When is the bond vote?
Respective Municipal Poll Locations
Tuesday, March 2, 2021
7:00 a.m. to 7:00 p.m.
What projects are included under the bond?
Small capital improvement projects to improve system reliability including:
What is the Total Bond Vote Amount?
The total bond vote amount is $1,090,067. This is the balance of previously authorized bond votes that has not been used due to receipt of grant funds and cost underruns for those past projects.
WILL THIS INCREASE MY WATER RATE?
This will be funded using a Bond Bank loan at a historically low interest rate. Our current financial model includes the debt service for the unused bond proceeds so adding this loan is net neutral regarding debt. Therefore, there will be no rate increase as a result of this bond vote.
Why are the improvements required?
What is the schedule for the improvements?
These capital improvements projects will be constructed over the next three years, with the majority of the work completed in 2021 and 2022.
What are the available funding sources?
Funding will be a Vermont Municipal Bond Bank loan for a 15-year term at an estimated interest rate of 1.54%.