Library proponent misleads Town Meeting on debt ceiling
Vote NO on Tuesday November 5. Live Within Our Means.
The proposed library was considered at the October 21 town meeting. A speaker favoring the project claimed Shrewsbury can afford the too big, too costly $23,000,000 proposed library because the town is at only 50 percent of its debt ceiling – the self-imposed limit on the amount of money that the town can borrow. What he omitted to explain was why we are at 50 percent.
Several years ago, the Selectmen’s policy was that the town’s debt ceiling should not exceed 1½ percent of the assessed value of property in town. However, as the town approached that limit, the Board of Selectmen voted to double the debt ceiling from 1½ percent to percent.
So Shrewsbury is at 50 percent of its debt ceiling only because the Selectmen doubled the amount of money the town can borrow. As the town’s value grows, our taxes and debt ceiling will automatically increase each year.
When they cast their ballots on Tuesday, November 5, voters should know that the town is following the bad example of the federal government by increasing the burden of debt that will be imposed on future generations.
Our plan is: Vote this “Too Big –Too Costly”, State Mandated, unnecessary project down. Then, build a modern, cost-effective library on town-owned land. We can do it without state money and the wasteful regulations that come with it. For more information go to www.ShrewsburySRT.org .
Short URL: http://www.communityadvocate.com/?p=41901