|
|||||||||
|
General News Millcreek debates loan repayment
FISHER - There was some controversy at the recent meeting
of The loan costs the township about $1,000 per year to keep
open, although it had originally made the township money through certificates of
deposit interest. The loan has 38 years remaining before the deadline for
repaying, but Supervisor Jim Daniels wanted to pay back as much of the loan as
possible since it is costing the township. Supervisor Lary Puskaric was in favor of holding onto the
loan money in anticipation of rates improving and the money being used to
generate more money for the township. “It’s costing us $1,000 per year,” Daniels commented.
“It’s bad business as far as I’m concerned.” “We made money out of it in the beginning,” Puskaric
commented. “I’m in favor of letting it go one more month to see what happens
with interest rates.” “That’s what we said in October,” Daniels countered. Supervisor Bill Hannold recommended the township keep
$5,000 of the loan to buy “badly-needed equipment and tools.” “How about we keep $1,000 out,” Daniels suggested.
“And pay back $20,000.” “How about $19,000,” Hannold compromised. “I’m in favor of waiting another month,” Puskaric
reiterated. Daniels and Hannold finally voted to pay back $19,000 and
retain the additional $2,155 for the purchase of tools and equipment. 2009 budget The budget projects $235,213 in revenues and the same
figure in expenditures, including an
estimated $37,000 revenue balance to be carried over from 2008. The township is anticipating an income $24,718 in local
real estate taxes, an income of $85,514 in state liquid fuels funding, an
expense of $72,000 in township wages, and an expense of $12,500 for fuel. Bid rejected The supervisors officially turned down a $69,191 low bid
for the paving of The road was formerly maintained by PennDOT, but in 2006
the state turned the road over to the township with the understanding that the
road would be paved by 2008, with help from $42,919 of state money. That money
has sat in a certificate of deposit and now amounts to $47,341 as of Nov. 1. When bids were put out for the project, they all came in
higher then the amount given to the township from PennDOT. The supervisors decided to meet with PennDOT
representatives and township legal counsel to try to draft a memorandum of
understanding saying the township would be reimbursed by PennDOT for the
remaining $23,000 before paving would begin. The township now has the PennDOT contract extension
paperwork, and expects to pave the road next year. In other business,
the supervisors : Discussed a tax anticipation loan to be taken out if there
is a need before new tax revenues come in. The loans are made available to
municipalities at the beginning of the year. Discussed having township legal counsel Jim Dennison draft
an ordinance to provide for a requirement for sewage system inspection upon the
purchase of property in the township. The ordinance will be meant to address
older properties being bought in the township to ensure their sewage systems are
up to code. Announced there have been a number of break-ins in the
township, and advised residents to be on the lookout for a black pickup truck
with a wooden bed, which has been seen in the area during the times of the
incidents. Discussed filling a second 1,000 gallon fuel tank for the
township in anticipation of undercutting possible rising fuel costs.
Hosting by USAChoice. |
|
|||||||
