Voting YES to the Roof Bond Referendum in November Will Result in Less Taxes Paid by Westfield
Thursday, October 10, 2013 • 10:28am
On November 5th, Westfield voters will be asked by the Board of Education to approve a new Bond referendum for the remaining roof projects that will be completed in the Summer of 2014 in the amount of $6,684,000. Westfield voters have already approved this amount as part of a prior referendum last year. After Westfield approved the last referendum, a change occurred in State funding for capital projects and Westfield is now eligible to receive $2.7 million of state aid for this roof work IF the voters approve a revised referendum that makes clear we are seeking the newly available State aid.
If voters pass the new referendum, then $2.7 million will be paid for by State aid, and the remaining amount of principal and interest due will be paid by taxpayers. If voters do not approve the new referendum, the work will still proceed in 2014 under the old referendum and Westfield taxpayers will pay the full amount, including the $2.7 million that the State would have covered. In either case, the amount raised is the same because the project cost has not changed – what has changed is that the State will now pay $2.7 million of the amount raised, rather than Westfield taxpayers, if the new referendum is passed.
The choice is clear. Passing the referendum will result in less taxes raised by Westfield for our roof projects.
President, Westfield Board of Education