About Bonds

Bond In Investing Savings Residents may never get to vote on whether the township should lower taxes or stop development - but a question on Tuesday's ballot will allow them to make a decision that could affect both.

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Bond Investment Toledo Toledo If the question passes, the township could establish an open-space tax not to exceed two cents per $100 of assessed value. Based on current tax information, that would increase the average tax bill by $42 a year.

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James Bond Trading Card The tax would raise about $1 million a year, which would go toward buying land that could be preserved as open space. In a town where most lots have already been developed, stemming further development has been a priority.

Cook notes, "State legislatures, county commissions, and city councils are continuing to give high priority to land conservation, even in tough economic times." - - or general obligation bonds. Bonds are a way for communities to borrow money in order to save land now, while paying off the debt over the next 20 or 30 years. The dollar amounts of each measure are either the total amount of the bond, or in the case of a new tax, the total of the revenue created over the lifetime of the levy (usually 10 to 20 years). When a ballot measure contains no sunset provision, year duration.

Bond In Investing Stock But so has stabilizing taxes.

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Municipal Bonds Investment Some residents see the open-space question as a choice between two evils: Is it more important to oppose a new tax and risk more development, or to increase property taxes in the hopes of preventing overdevelopment?

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Bond Terms Trading "In principle, I don't like additional taxes," said Alex Mazilu, a Wayne homeowner. "But to have more free land, it's a good idea. I think I would vote for it." The money would go toward purchasing land for open space, recreation, farmland preservation, or historic properties.

Bond Debt High In Inside Mayor Scott Rumana said that while an open-space tax might lead to slightly higher bills in the short term, down the road it would mean much greater tax savings. New residential developments increase the burden on the school system, the township police, roads, and other municipal services, he said. Preserving open space means less development and therefore less of a future tax burden, he said.

Bond Greenville Greenville "Plus you need to have green space for quality of life," Rumana said. "If you want to keep a high home value, it doesn't help if everything is paved over."

Trading Stock And Bonds Commercial building could also be costly, said Estelle Perry, a member of the Wayne Environmental Commission. Wayne has already seen an increase in traffic and a need for road improvements, she said, adding: "That wasn't caused by residential traffic. That was caused by commercial traffic."

Bond Investing Municipal By establishing an open-space fund, the township would be eligible for 50 percent matching funds from the state, Rumana said. Money from the fund could be used to bond for land acquisitions. The township would maintain any open space with money from the general budget - but money for unexpected expenses, such as cleanup after a major storm, could come from the open-space fund.

Basis Bond Finance Hill Perry said that by preserving open space, the township would also help to avoid development on sensitive properties that include steep slopes or wetlands.

Bond Explained Terms Trading Building on wetlands can have an impact on flooding, and building on steep slopes affects the water runoff, she said. The township would be able to use the fund to purchase land in flood-prone areas, preventing costly problems in the future, she said. There are only about 90 available lots that are two acres or larger in Wayne, Perry said.

Bond Business Investing Stock "The best thing and the cheapest thing for the township to do sometimes is to buy it," she said.

Bond Houston Houston By Robert Ratish
Bergen Record - 11/1/2003

Topic: Less Sprawl

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