The Derby Board of Aldermen will be meeting with the Derby Board of Apportionment and Taxation tonight (Wednesday, May 22) to discuss items to be placed on a yet-to-be scheduled referendum.
The meeting is scheduled to be held at 7 p.m. in the Aldermanic Chambers of Derby City Hall at 1 Elizabeth St.
Public officials have been working for several months to put together a multi-million bonding package that needs to be approved by voters.
As of April 26, city officials were considering borrowing up to (roughly) $26 million for two projects — making major upgrades and repairs to the city’s sewer system and replacing the roofs at Derby High School, the Irving School and the Bradley School.
Voters could be asked to approve the borrowing of either $20 or $25 million for the sewer system.
Voters could be asked to approve the borrowing of about $1.5 million for the school roofs. The actual roof jobs cost about $5.7 million, but city officials estimate some $4 million will be paid for by the state.
The actual ballot question must ask voters to approve the $5.7 million, Derby City Treasurer Keith McLiverty said last month, but the explanatory text accompanying the ballot question can note the city won’t actually borrow the full amount
Derby officials say interest rates are low, making this a good time to bond. In addition, the city has a good bond rating.
An open question — the financial impact of this borrowing on the average taxpayer’s or sewer users wallet.
Tonight’s meeting includes a “public portion,” at which time members of the public can make comments or ask questions.
The agenda for tonight’s meeting is below:
