Public Input: Bond Term Question

The Board of Directors is seeking input from the public on the upcoming bond election.  The question for the public is centered on the bond term.  Please choose from one of the options below.

All of the numbers used in these examples are estimates. 

                                             20 year Bond Option

Estimated Bond amount:     $59.85 million

Term:                                          20 years

Projected interest rate             2.79%

Total Interest                           $19.0 million

Less state paid interest          $1.9 million

Net Interest                              $17.7 million 

Projected tax rate:                $1.45 per $1,000

Assessed Home value                            $200,000

Home owners exemption(2016)            $94,745

Taxable amount                                  $105,255

Tax rate                                                $1.45 per $1000

Annual Tax                                           $152.62

Monthly Tax                                       $152.62/12 = $12.72

 30 year Bond Option

              $59.85 million

                 30 years

                3.46%

             $37.1 million

             $3.7 million

            $33.4 million

              $1.17 per $1,000

$200,000

$94,745

$105,255

$1.17 per $1000

$123.15

$123.15/12 = $10.26

Please click on the following link to indicate your preferred choice:        Bond Term Question

 

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