General News: Town Considers $1 Million Bond
May 07, 2009
The town of Cornwall is looking into the possibility of taking out a $1.17 million bond to finance the purchase of new equipment for the highway department, to reconstruct and repave Old Route 32 and Ridge Road, and, possibly, to repair the town swimming pool.
The town board discussed the items on the list at its work session on Monday evening and decided that supervisor Kevin Quigley could look into the availability of low-interest bonds for the town. Quigley told the council members that rates are low and that it makes sense to invest in the trucks and other equipment for the highway department because the cost of repairing the aging fleet is getting steeper and steeper. He also said that the debt could be repaid through other cost-savings projected in the town budget.
“We’re never going to get a better rate,” Quigley told the board, “and we could take the fleet to good condition and avoid the heavy bills we’re getting now.”
Several of the town board members said that they are reluctant to approve a $120,000 upgrade for the pool’s filter system but they were willing to investigate the cost of a bond to cover the upgrade. Supervisor Quigley explained that the new system would include an automated chlorine additive process that would save the town thousands of dollars.
Before any more money is spent on the pool, the town board members agreed that it must be tested to make sure it can hold water. Last year the town spent $13,500 to repair leaks in the pools.
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