Advisory Board OKs Bond For New Township Building
July 28, 2016 at 4:25 p.m.
LEESBURG - The Plain Township Advisory Board officially kicked off plans for a township building Thursday by adopting a preliminary bond ordinance.
The ordinance calls for general obligation bonds not to exceed $1.05 million. The 20-year bond will have an interest rate no higher than 7 percent.
The money will be used to build a multi-purpose facility for the township. The building will include space for a fire station, EMS equipment, sleeping quarters, a township meeting room, and offices for the assessor and township trustee.
The 10,000-square-foot building will be built at the intersection of Armstrong and Baseline roads.
The bond is expected to add about 10 cents to the township tax rate. A resident with a home valued at $125,000 would pay about $36 more a year in property taxes.
The board is hoping costs will actually be lower as construction bids come in.
Also, Trustee Don Boggs expects the cumulative fund tax to be reduced from 10 cents to 5 cents by 1999, when the township has enough money to purchase new equipment for the fire department.
Construction bids are due at 1 p.m. Sept. 5.
Construction on the building could begin this fall. The building is expected to take six to eight months to complete. [[In-content Ad]]
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LEESBURG - The Plain Township Advisory Board officially kicked off plans for a township building Thursday by adopting a preliminary bond ordinance.
The ordinance calls for general obligation bonds not to exceed $1.05 million. The 20-year bond will have an interest rate no higher than 7 percent.
The money will be used to build a multi-purpose facility for the township. The building will include space for a fire station, EMS equipment, sleeping quarters, a township meeting room, and offices for the assessor and township trustee.
The 10,000-square-foot building will be built at the intersection of Armstrong and Baseline roads.
The bond is expected to add about 10 cents to the township tax rate. A resident with a home valued at $125,000 would pay about $36 more a year in property taxes.
The board is hoping costs will actually be lower as construction bids come in.
Also, Trustee Don Boggs expects the cumulative fund tax to be reduced from 10 cents to 5 cents by 1999, when the township has enough money to purchase new equipment for the fire department.
Construction bids are due at 1 p.m. Sept. 5.
Construction on the building could begin this fall. The building is expected to take six to eight months to complete. [[In-content Ad]]