To The Daily Sun,
The Moultonborough Candidates Night was held Sunday, March 6. Article 2, a $6.4 million bond that is for a proposed gym/community complex to be built on Route 25 was discussed. Previous bond hearings discussed 10- and 15-year bond options.
On Sunday, I mentioned the 15-year-bond would cost over $7 million (actual is $7,726,390) over its term, the number including interest as provided to the residents at the bond hearings.
I offered my opinion that the true cost on the 15-year bond is closer to $11 million at the end of the term. Taking the $6.4 million bond and interest and adding the town's projected annual operating expense of $162,050, for 15 years, amounts to $2.4 million.
The $6.4 million plus interest equals $7.7 million, plus $2.4 million operating costs equals $10.1 million over the 15 years. This does not include increases in staff costs (health care and raises), plus ongoing increases in utility, maintenance and repair costs at the 20,000 sq ft facility. It is not unreasonable at the end of the 15 year term to cost taxpayers over $11 million.
The equivalent true cost for the 10-year bond would be nearly $9 million; $6.4 million plus interest equals
$7.2 million plus $1.6 million operating cost equals $8.9 million over the 10-year period. (That's) significantly higher than the $6.4 million in Article 2.
With so many unanswered questions: 10- or 15-year bond? Finished design? Test boring results? Impact on aquifer and wetlands? Traffic impact on the Village? Declining population/actual need? Taxpayers are being rushed into making a multimillion-dollar decision without enough facts.
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