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.
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.
Ben Harrison, Council President
No arguments FOR or AGAINST this measure were filed.