In a Special Financial Town Meeting Referendum held on November 5, 2019 with only 853 votes cast, the Town of Standish approved a bond referendum to replace existing street lights with lower power LED lights.
To see if the Town will vote to authorize the issuance of up to $150,000 in general obligation bonds or notes in anticipation thereof and to expend the proceeds of such bonds or notes to finance the capital expenditure cost of conversion from existing high-pressure sodium streetlights to light-emitting diode (LED) streetlights with intelligent wireless controls (“Smart Controls”) and other related costs, including engineering costs and costs of issuance of such bonds or notes in anticipation thereof, hereby authorized and appropriated, with the dates, maturities, denominations, interest rate(s) and other details of the bonds or
notes (including provisions that the bonds may be subject to call for redemption with or without premium) to be determined by the Town Council.
(Note: Projected savings to the Town is $575,000 over the next 20 years per the Investment Grade Audit prepared by Realterm Energy.)
(Note: Total estimated debt service of $156,249.65, of which principal is $150,000.00 and estimated interest at rates ranging from 2.00% to 3.5%, depending on the year of maturity, over 5 years is $6,249.65.)Standish Referendum Question 1
- Yes 620
- No 230
- Blank 3