BALLOT TITLE
MAYWOOD PARK DEBT AUTHORIZATION
QUESTION: Shall the City borrow up to $30,000.00 from the State to fund a sewer feasibility study?
SUMMARY: To fulfill commitments made to the Oregon Department of Environmental Quality (DEQ) and to the Department of Land Conservation and Development (DLCD), the City Council desires to commission a study on the feasibility of constructing and financing sewers within its borders. It is expected that such a study will cost between $25,000 and $30,000. At present, the City does not have the funds in its treasury to pay for this study. However, a low interest loan from the State is available. The City Council would like to avail itself of this loan but is prohibited by section 7 of the City charter from incurring debt over $1,000.00 without voter approval. This ballot measure if passed would grant such approval and would allow the City to borrow up to $30,000.00 from the State to be used to fund a sewer feasibility study.
EXPLANATORY STATEMENT
This ballot measure has been referred to the voters by the Maywood Park City Council to take advantage of a low interest loan available through the State of Oregon to fund a study on the feasibility of installing sewers in the City. Because of a provision in the City charter requiring the consent of the voters to allow the city to incur debt greater that $1,000.00, the City Council must procure voter approval before proceeding with the loan. If approved, the City would apply for a loan in an amount not to exceed $30,000.00 and would use the proceeds to pay for such a study. If this ballot measure does not pass, the City Council will be required to explore other options to pay for this study.
Submitted by:
Ben Harrison, Council President
No arguments FOR or AGAINST this measure were filed.