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<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2> Hello
Neighbors!</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>Sorry for the delay
in getting these minutes out, but my fingers have been curled in a grasping,
shovel holding position all weekend...finally got the cramps out of them...(Did
anyone else notice how the flakes seemed to be laughing at you, as they
piled up inches high AFTER you just finished shoveling, despite the
weathermen calling for "flurries"?)</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>Anyway, now that
we're all dug out, we had a great meeting last Thursday. Desiree Grand
presented information on the upcoming ExCEL bond resolution vote, (JANUARY 27,
2009) and I'm here to decipher it for you all. </FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>Here's the
story:</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>NYS has a special
fund for capital improvements, that school districts can pull from, to make
major repairs to buildings, such as new furnaces, roof repairs/replacements,
window replacements, etc. Normally, these repairs would come out of our
general fund, and therefore going out to bond for them would mean higher
property taxes. This special fund, however, pays the district back for
bonding out for the money to make the repairs, and therefore there is NO LOCAL
PROPERTY TAX INCREASE for the repairs. Here's how it
works...</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>1. School District
assess need, and creates estimate of work required and
costs.</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>2. Voters approve
bond issue.</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>3. School District
goes out, sells bonds, gets money, and makes repairs. (This includes the
RFP and bidding process, etc.)</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>4. State reimburses
school district for bonds, therefore relieving the local property tax
burden.</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>Now, there are some
conflicting numbers out there, and some major concerns - #1 being that the State
is in a fiscal crisis, so where is the money coming from?</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>$7.5 Million will be
coming from the special ExCEL Fund, this is guaranteed.</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>$13.5 Million will
be coming from the NYS Special Education Fund. According to Desiree Grand,
Patterson hasn't made any moves towards reducing funding for this line item, and
in the history of the state, no moves have been made against it, so she, and the
powers that be, are assured that the money will be there to pay back the bonds
Mount Vernon issues.</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>A total of
approximately $20 Million in Capital Improvements will be made, with no local
property tax burden. This is basically a win win situation for Mount
Vernon. Our children deserve schools without leaky roofs, asbestos
dangers, and with boilers that function properly and fiscally responsibly. Most
of the money and work will be fixing these problems. In addition, some
schools will be getting wiring replaced to make the technology work properly,
and other smaller line items. In the end, our children are benefiting, and
our taxes are not rising from this bond. </FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>Some Questions That
Were Asked:</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>"Why do we need to
vote on this?" - Simple answer - anytime a school district or public entity goes
out to borrow money, the voters have to approve it.</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>"Who will oversee
the work?" - The School Superintendent, Buildings and Ground Supervisor, and
members of the Buildings and Grounds committee (which is a public committee, and
anyone can join and attend meetings).</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>"What happens when
the construction goes over budget" - There is a 5% contingency built into the
budget. </FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV><SPAN class=932254412-20012009>
<DIV>
<HR>
</DIV>
<DIV></SPAN><SPAN class=932254412-20012009><FONT face=Arial size=2>There is no
percentage of voters that have to approve this measure - it only has to be a
majority. Last time, the measure lost by 5 votes, and the school district
thinks that this is because of confusion with the budget vote.
</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2></FONT></SPAN> </DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2><STRONG>REMINDER -
JANUARY 27, 2009 - EXCEL VOTE - AT YOUR LOCAL POLLING PLACE!
<HR>
</STRONG></FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial size=2>Thanks everyone!
(And I'm still waiting on an update about the meeting at City Hall? Anyone?
Thanks!)</FONT></SPAN></DIV>
<DIV><SPAN class=932254412-20012009><FONT face=Arial
size=2>Suzie</FONT></SPAN></DIV></BODY></HTML>